Proceeds of Crime Law definition

Proceeds of Crime Law means the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999;
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Proceeds of Crime Law means the Cayman Islands Proceeds of Crime Law 2008, as amended from time to time;
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Proceeds of Crime Law means theProceeds of Crime Act 2002 or the Proceeds of Crime Act 1987 .
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Examples of Proceeds of Crime Law in a sentence

  • The Money Laundering Order prescribes measures to be taken (including measures not to be taken) by persons who carry on financial services business (a term that is defined in Article 36 of the Proceeds of Crime Law), for the purposes of preventing and detecting money laundering and the financing of terrorism.

  • It must report its knowledge or suspicion under Article 34D of the Proceeds of Crime Law.

  • The subscriber acknowledges and understands that (a) under the Proceeds of Crime Law (as amended) of the Cayman Islands, if a person who is a resident in the Cayman Islands knows or suspects that a payment to the Fund (by way of subscription or otherwise) represents proceeds of criminal conduct, that person must report his knowledge or suspicion to the reporting authority, and (b) such report shall not be treated as a breach of any restriction upon the disclosure of information imposed by law or otherwise.

  • It is anticipated that publishing those results will: 1) inform public sector agencies and persons engaged in relevant financial business2 under the Proceeds of Crime Law (2019 Revision) of the existing ML/TF risks, thereby facilitating the design and implementation of adequate measures for risk mitigation; and,2) provide information that will assist in the efficient allocation of resources for combatting ML/TF.

  • Cayman Financial Institutions and their agents should therefore be aware that a person’s false self-certification may give rise to an obligation to make a suspicious activity report pursuant to the Proceeds of Crime Law (2016 Revision).Cayman Financial Institutions, their representatives and other persons may be criminally liable if they give inaccurate information to the TIA.

  • This is consistent with Recommendations 10 and 25 of the FATF Recommendations and provided for in Paragraph 137 of the Commentary on Section VIII.In practical terms, this means that a Reporting FI will not be required to identify the Controlling Persons of those types of Account Holders in circumstances where it is unnecessary to identify their "beneficial owners" for AML/KYC purposes by virtue of simplified measures under the Proceeds of Crime Law (2020 Revision).

  • However, money laundering and financing of terrorism offences established in the Proceeds of Crime Law, Terrorism Law and other legislation are wider in scope, and so all employees will need to have a basic understanding of money laundering and the financing of terrorism, and an awareness of internal reporting procedures and the identity of the MLRO (and, if applicable, deputy MLRO).

  • This Act may be cited as the ‘‘Minnesota Chippewa Tribe Judgment Fund Dis- tribution Act of 2012’’.SEC.

  • This guidance is not intended to be an alternative to reading the relevant provisions of the Cayman Islands Proceeds of Crime Law (2020 Revision) (“POCL”) and the other laws mentioned herein.

  • Thus we ensure that allinformation in our possession and control isdisclosed only in accordance with the Proceeds of Crime Law.

Related to Proceeds of Crime Law

  • Proceeds of crime means any property derived from or obtained, directly or indirectly, through the commission of an offence;

  • terrorism financing means directly or indirectly, unlawfully and wilfully, provides or collects funds with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out acts of terrorism.

  • money laundering means the conversion or transfer of property, knowing that such property is the proceeds of crime, for the purpose of concealing or disguising the illicit origin of the property or of helping any person who is involved in the commission of the predicate offence to evade the legal consequences of his or her actions, or the concealment or disguise of the true nature, source, location, disposition, movement or ownership of or rights with respect to property, knowing that such property is the proceeds of crime.

  • Anti-Terrorism Laws are any laws relating to terrorism or money laundering, including Executive Order No. 13224 (effective September 24, 2001), the USA PATRIOT Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered by OFAC.

  • Certified act of terrorism means an act that is certified by the Secretary of the Treasury, in accordance with the provisions of the federal Terrorism Risk Insurance Act, to be an act of terrorism pursuant to such Act. The criteria contained in the Terrorism Risk Insurance Act for a "certified act of terrorism" include the following:

  • Bribery Act means the Bribery Act 2010 and any subordinate legislation made under that Act from time to time together with any guidance or codes of practice issued by the relevant government department concerning this legislation;

  • USA PATRIOT Act means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001.

  • Data Protection Laws and Regulations means all laws and regulations, including laws and regulations of the European Union, the European Economic Area and their member states, Switzerland and the United Kingdom, applicable to the Processing of Personal Data under the Agreement.

  • Anti-Bribery Laws means the anti-bribery provisions of the Foreign Corrupt Practices Act of 1977, as amended, and all other applicable anti-corruption and bribery Laws (including the U.K. Xxxxxxx Xxx 0000, and any rules or regulations promulgated thereunder or other Laws of other countries implementing the OECD Convention on Combating Bribery of Foreign Officials).

  • Anti-Money Laundering Law means applicable laws or regulations in any jurisdiction in which any Loan Party or any Subsidiary is located or doing business that relates to money laundering, any predicate crime to money laundering, or any financial record keeping and reporting requirements related thereto.

  • UK Data Protection Legislation means all applicable data protection and privacy legislation in force from time to time in the UK including the UK GDPR; the Data Protection Act 2018; the Privacy and Electronic Communications Directive 2002/58/EC (as updated by Directive 2009/136/EC) and the Privacy and Electronic Communications Regulations 2003 (SI 2003/2426) as amended.

  • European Data Protection Laws means data protection laws applicable in Europe, including: (i) Regulation 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (General Data Protection Regulation) ("GDPR"); (ii) Directive 2002/58/EC concerning the processing of personal data and the protection of privacy in the electronic communications sector; and (iii) applicable national implementations of (i) and (ii); or (iii) GDPR as it forms parts of the United Kingdom domestic law by virtue of Section 3 of the European Union (Withdrawal) Act 2018 ("UK GDPR"); and (iv) Swiss Federal Data Protection Act on 19 June 1992 and its Ordinance ("Swiss DPA"); in each case, as may be amended, superseded or replaced.