Pdf compendium of all lawscategories also available email. Find information about the prevention of moneylaundering amendment act, 2009 which includes amendments in section 2, 5, 6 and 8 of the prevention of moneylaundering act, 2002. The 2007 regulations implement in part directive 200560ec oj no l 309, 25. An act to repeal the money laundering prohibition act 2004 and enact the. Duty to report international transfer of funds and securities. Act 731 money services business act 2011 date of royal assent 26aug2011 date of publication in the gazette 15sep2011 an act to provide for the licensing, regulation and supervision of money services business and to provide for related matters. Pdf the nigerian money laundering prevention and prohibition. An act further to amend the prevention of money laundering act, 2002. Enacted by the national assembly of the federal republic of nigeria part i. The money laundering prohibition act, 2011 mlpa, terrorism prevention act, 2011, central bank of nigeria antimoney laundering combating the financing of terrorism amlcft regulation, 2009 as amended and other amlcft guidelines provide guidance to bank examiners to carry. Overview of key sections of nigerias money laundering prohibition. This act may be cited as the antimoney laundering amendment act, 2012 and shall be read as one with the antimoney laundering act, hereinafter referred to asthe principal act. Money laundering prohibition amendment, 2012 a bill for an act to amend the money laundering prohibition act no.
Prevention of money laundering act, 2002 wikipedia. The prevention of moneylaundering amendment act, 2005. Pmla and the rules notified there under came into force with effect from july 1, 2005. Amendment of section 25 section 25 of the principal act is amended by deleting immediately after the word forfeit in line 4, the expression, not less than 25% of. These regulations amend the money laundering regulations 2007 s. Be it enacted by parliament in the sixtieth year of the republic of india as follows. Details about amendments and sections of the act are also available. This act may be cited as the proceeds of crime antimoney laundering and antiterrorist financing supervision and enforcement act 2008. The anti money laundering and combating of financing of terrorism act, 2012. Subsequently, the ordinance was repealed by the money laundering prevention act, 2009. An insight into the money laundering prohibition act core.
The act and rules notified there under impose obligation on banking companies, financial. Dhaka, 20 february, 2012 08 falgun, 1418 the following act of parliament received the assent of the president on 20 february, 2012 08 falgun, 1418 and is hereby published for general information. Section 19 of the money laundering and financing of terrorism prevention act, 2011. The economic implications of money laundering in nigeria. It was replaced by the money laundering prevention ordinance 2008. Financial institutions act 2005 money laundering and financing of terrorism prevention act 2011 mlftpa applicable to lawyers. In this act, unless the c interpretation ontext otherwise requires authorised officer means an officer authorised by the. The first legislative framework established to combat money laundering was the money laundering decree of 1995.
Contravention of section 24a of the arms act, 1959 relating to prohibition. This was in operation for only ten months before it was again repealed by the money laundering prohibition act of 2004. The principal act is amended by repealing section 2 and substituting for itthe following provision. Although the money laundering prohibition act 2011 as amended sufficiently addressed observed. Money laundering prohjbltlon act, 2011 a bill for an act to repeal the money laundering prohibition act, 2004 and enact the money laundering prohibition \ct. The 2004 money laundering prohibition act was finally repealed by the 2011 money. Money laundering prevention act,2012 bangla english. Prohibition imposed on transfer, conversion, disposition, movement, or. The nigerian money laundering prevention and prohibition bill, 2016. An act further to amend the prevention of moneylaundering act, 2002. Model legislation on money laundering and financing of. The antimoney laundering and combating of financing of.
Unless there is anything repugnant in the subject or context, in this act a smuggling of money or property means. The nigerian money laundering prevention and prohibition. An act to make better provisions for prevention and prohibition of money laundering, to provide for the disclosure of information on money laundering, to establish a financial intelligence unit and the national multidisciplinary committee on antimoney laundering and to provide for matters connected thereto. This act amends the money laundering prohibition act, no. Antimoney laundering act, 2008 act 749 5 a the retention or the control by or on behalf of that other person of the proceeds from unlawful activity is facilitated, or b the proceeds from that unlawful activity are used to make funds available to acquire property on behalf of. Amendment of antimoney launderingcombating the financing of. It came on the statute book as the prevention of moneylaundering act, 2002 15 of 2003. Any act constituting a misdemeanour or a felony under. Being an act to provide for the criminalization of money laundering and financing of terrorism, the establishment of structures to implement this and for other related matters.
The first antimoney laundering legislation in bangladesh was the money laundering prevention act, 2002. Antimoney laundering and combating of financing of. An act to repeal the money laundering act, 1995 no 3 and enact a new money laundering act. Acts xxxi of 2001, iii of 2002, and iii and xiii of 2004. Being an act to provide for the criminalization of money laundering and financing of terrorism, the establishment of. The prevention of moneylaundering bill having been passed by both the houses of parliament received the assent of the president on 17th january, 2003. Prohibition and prevention of money laundering amendment act 2010. An act to repeal the money laundering prohibition act, 2004 and enact the money laundering prohibition act, 2011.
Prevention of money laundering amendment act year 2017. The money laundering prohibition act, 2011 has repealed the money laundering prohibition act, 2004 by providing for, among other things, that no person or body corporate shall, except in a transaction executed through a licensed financial institution, make or accept cash payments of a sum exceeding n5,000,000 five million naira or its equivalent in the case of an individual, or n10,000. An act to make better provisions for prevention and prohibition of money laundering, to provide for the disclosure of information on money laundering, to establish a financial intelligence unit and the national multidisciplinary committee on antimoney laundering and to. Users can get information regarding the act, its objectives, short title and commencement. The act was first passed in 2004 as the money laundering prohibition act, 2004. Money laundering prohibition act, 2011 as amended and the terrorism prevention act, 2011 as amended. Prohibition and prevention of money laundering amendment. Prevention of money laundering act, 2002 is an act of the parliament of india enacted by the nda government to prevent moneylaundering and to provide for confiscation of property derived from moneylaundering. In 2012, government again replace it with the money laundering prevention act, 2012. Money laundering prevention act, 2012 bangladesh customs.
1009 962 1151 973 604 262 872 1563 208 1152 274 1614 1573 724 492 569 1578 19 147 1413 542 981 1502 579 1109 873 1405 731 1221 129 1438 1438 1430 1164 1462 1189 278 608