Penalties for money laundering are being tightened. As Oxu.Az reports, this issue is reflected in the draft law amending the Criminal Code, which was discussed at today’s plenary session of the Milli Majlis.
According to current legislation, concealing or disguising the true nature, source, location, disposal, movement, rights to, or accessory property knowingly obtained through criminal activity is punishable by a fine of 4,000 to 8,000 manat or imprisonment for a term of 2 to 5 years, with or without deprivation of the right to hold certain positions or engage in certain activities for up to 3 years.
According to the proposed amendment, this crime will be punishable by a fine of 50% to 70% of the value of the crime committed, or imprisonment for a term of 2 to 5 years, with or without deprivation of the right to hold certain positions or engage in certain activities for up to 5 years.
The bill was put to a vote and adopted on third reading.
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