Section 3: Offence of money laundering

3. Offence of money laundering.—A person shall be guilty of offence of money laundering, if the person: (a) acquires, converts, possesses, uses or transfers property, knowing or having reason to believe that such property is proceeds of crime; (b) conceals or disguises the true nature, origin, location, disposition, movement or ownership of property, knowing or having reason to believe that such property is proceeds of crime; (c) holds or possesses on behalf of any other person any property knowing or having reason to believe that such property is proceeds of crime; or (d) participates in, associates, conspires to commit, attempts to commit, aids, abets, facilitates, or counsels the commission of the acts specified in clauses (a), (b) and (c). Explanation [-I]. The knowledge, intent or purpose required as an element of an offence set forth in this section may be inferred from factual circumstances in accordance with the Qanun-e-Shahadat, 1984 (P.O.10 of 1984). [Explanation-II.—For the purpose of proving an offence under this section, the conviction of an accused for the respective predicate offence shall not be required.]

Effective date: 2010-03-27

Amendment history

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