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Sri Lankan Law Forum » Criminal Law Forum » What are the penalties for committing money laundering offence?

What are the penalties for committing money laundering offence?

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Any person who is guilty of the offence of money laundering; shall on conviction after trial before the High Court be liable to a fine which shall be not less than the value of the property in respect of which the offence is committed and not more than three time the value of such property, or to rigorous imprisonment for a period of not less than five years and not exceed twenty years or both such fine and imprisonment. Further, the property derived from or involved in money laundering is also liable to forfeiture under the Act. Further assets of any person found guilty of the offence of money laundering shall be liable to forfeiture in terms of the Act.

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