Malaysia legislation

Section 28F

of *ANTI-MONEY LAUNDERING, ANTI-TERRORISM FINANCING, ANTI-RESTRICTED ACTIVITY FINANCING AND PROCEEEDS OF UNLAWFUL ACTIVITIES ACT 2001

Section 28F

(a)

be made in such form as the competent authority may specify; and

50 Laws of Malaysia

(b)

contain full and accurate information relating to the matter being declared as is specified in the form.

(2)

A declaration under this Part, except under section 28E, shall be made to the competent authority through an authorized officer.

(3)

An authorized officer shall make available to the competent authority, upon the request of the competent authority, within a reasonable time—

(a)

any declaration submitted to the authorized officer; or

(b)

any information about suspicious cross border movements of cash or bearer negotiable instruments.

(4)

Any person who makes a declaration which is false, inaccurate or incomplete commits an offence and shall on conviction be liable to a fine not exceeding three million ringgit or to imprisonment for a term not exceeding five years or to both.

Structuring to avoid declaration under this Part

Read in full context — *ANTI-MONEY LAUNDERING, ANTI-TERRORISM FINANCING, ANTI-RESTRICTED ACTIVITY FINANCING AND PROCEEEDS OF UNLAWFUL ACTIVITIES ACT 2001 →