Section 14 Money Laundering Act

Section 14 of the Money Laundering (Prevention and Prohibition) Act 2022 is about Liability of directors and employees of financial institutions and designated Non-financial business and profession. It provides as follows:

Where funds are blocked under section 7 (8) of this Act and there is evidence of conspiracy with the owner of the funds, the financial institution or the designated non-financial business and profession involved shall not be relieved of liability under this Act and criminal proceedings for all offences arising there from, may be brought against a director and employees involved in the conspiracy.