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Section 28G

Structuring to avoid declaration under this Part

of Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001

ActIn forceProvision 35 of 143
Section 28G
(1)

No person shall structure, or direct, assist or participate in structuring any cross border transportation or movements of cash or bearer negotiable instruments to avoid making a declaration under this Part.

(2)

Any person who contravenes subsection (1) commits an offence and shall on conviction be liable to a fine of not more than five times the aggregate sum or value of the amount of cash or bearer negotiable instruments at the time the offence was committed or to imprisonment for a term not exceeding seven years or to both.

Read in full context — Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001 →