Business Law

BUSINESS LAW AND ETHICS
ZCZB 6013

GROUP ASSIGNMENT
MONEY LAUNDERING

doingive for:
MR. AHMAD BADRULHISAM CHE KASIM

Prepared by:
Ratna Marliza MokhtarZP00876
Ida Murni MuhammadZP00866
Dwinta MarthasariZP00892
Vishtash AzarnooshZP00811
1.INTRODUCTION
specie clean is not a new phenomenon. At its most fundamental level, the fight against currency laundering is based on the recognition of its serious ill implications on the economy and society at large, if left unchecked. bills laundering has a negative effect on stinting growth as it diverts resources to unproductive activities and as it facilitates corruption and crime. currency laundering activities perpetuate crimes as they encourage the underlying execrable activity from which illicit yield are generated. 

2.DEFINITION
Section 3 of the Anti capital Laundering Act 2001 defines money laundering as:

Any act which acquire, receives, possesses, camos, transfers, converts, exchanges or removes from or brings into Malaysia effect of any unlawful activity.

The Law Society defines Money Laundering as:
The process by which the proceeds of crime, and the honest ownership of those proceeds,
are changed so that the proceeds appear to induce from a legitimate source.





Other definitions are as follows:-
An act of a person who engages directly or indirectly in a transaction that involves
proceeds of an unlawful activity.

Money laundering is the process of disguising il court-orderedly obtained money as legitimate
profits, which you hatful then use without attracting attention.

The process of taking the proceeds of criminal activity and making them to be appear legal.

A conduct or acts designed in in all or in part to conceal or disguise the nature,
location, source, ownership or control of money (can be currency or equivalents,
example: checks, electronic transfers, and others methods) to avoid a reporting
want relating to the transaction under the state or...If you want to get a full essay, order it on our website: Ordercustompaper.com



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