Malaysia legislation

Section 88

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

Section 88

Where a person is liable under this Act to a penalty for any act, omission, neglect or default, he shall be liable to the same penalty for the act, omission, neglect or default of his employee, director,

Anti-Money Laundering, Anti-Terrorism 123

Financing and Proceeds of Unlawful

(a)

his employee in the course of the employee’s employment;

(b)

his director in carrying out the function of a director;

(c)

his controller in carrying out the function of a controller;

or

(d)

his agent when acting on his behalf.

Falsification, concealment and destruction of document, etc.

Section 88 — ANTI-MONEY LAUNDERING, ANTI-TERRORISM FINANCING, ANTI-RESTRICTED ACTIVITY FINANCING AND PROCEEEDS OF UNLAWFUL ACTIVITIES ACT 2001