Money Laundering
التاريخ
| Article (52) | A- | For the purpose of paragraph (K) of Article (23) of this Act, money laundering in insurance activities means the transfer of any money resulting from an illegal act, replacing, using or investing of such, in any means to make it legal money without specifying the true origin or ownership, or in the case of giving false information about that. |
| B- | Notwithstanding what is stated in any other legislation, the Commission may request from any person or entity subject to the provisions of this Act, to refrain the execution of any transaction related to insurance activities, if it was arising from any act stated in paragraph (A) of this Article, and the Commission may notify any official or judicial authority of such. | |
| C- | Subject to the provision of any other legislation, any person who commits any of the acts stipulated in paragraph (A) of this Article shall be liable to penalized by temporary penal servitude and with a fine not less than one hundred thousand dinars and not exceeding five million dinars, and the seizure of that money. |
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Last update Thursday on 23-11-2023 at 15:26:57
