1. A person shall be deemed to have committed money laundering if that person knows or there are sufficient indications or evidence to believe that the Funds, in whole or in part, are the Proceeds of a Predicate Offence, and intentionally commits any of the following acts: a. Converts, transfers, or carries out any transaction involving the Proceeds for the purpose of concealing or disguising their illicit origin. b. Conceals or disguises the true nature of the proceeds, source, location, disposition, movement, ownership, or rights related thereto. c. Acquires, possesses, or uses the Proceeds upon receipt thereof. d. Assists the perpetrator of the Predicate Offence in evading punishment therefor. 2. Money Laundering shall be deemed an independent crime, and shall be excluded from the application of the provisions on concurrence prescribed under Federal Decree by Law No. (31) of 2021 referred to hereinabove; and the punishment or non-punishment of the perpetrator of the Predicate Offence shall not preclude their punishment for Money Laundering. 3. Conviction of the Predicate Offence shall not be required to establish the illegitimate source of the Proceeds, nor shall it be required to prove knowledge of the specific type or nature of the predicate offence from which the proceeds were derived. Such knowledge, being an element of the Crime, may be inferred from the factual and objective circumstances attendant upon its commission.
Interpretation and application must be checked against the official text and current version.