Prevention of Money Laundering Act (Cap. 373), article 2

2. (1) In this Act, unless the c ontext otherwise requires - "criminal activity" means any activity, whenever or wherever carried out, which, under the l aw of Malta or any other law, amounts to: (a) a crime or crimes specified in Article 3 (1) ( a) of the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances adopted on the 19th December 1988 in Vienna reproduced (in the English language only) in the First Schedule to this Act; or (b) one of the offences listed in the Second Schedule to this Act; "EEA State" means a State which is a contracting party to the agreement on the Europ ean Economic Area sign ed at Oporto on the 2 May, 1992 as amended by the Pr otocol signed at Brussels on th e 17 March, 1993 and as may be am ended by any subsequent Acts; "European Supervisory Authority" means the European Supervisory Authority (European Banking Authority), established by Regulation (EU) No. 1093/2010 of the European Parliament and of the Council, or the European Supervisory Authority (European Insurance and Occupational Pensions Authority) established by Regulation (EU) No. 1094/2010 of the European Parliament and of the Council or the European Supervisory Authority (European Securities and Markets Authority) established by Regulation (EU ) No. 1095/2010 of the European P arliament and of the Council; Cap. 9. "funding of terrorism" means the conduct described in articles 328B and 328F to 328I, both inclusive, of the Criminal Code ; "Member State" means a Member State of the European Union and includes an EEA State; "Minister" means the Minist er responsible for finance; "money laundering" means - (i) the conversion or tra nsfer of property knowing 2 CAP. 373.] PREVENTION OF MONEY LAUNDERING or suspecting that such property is derived directly or indirectly f rom, or the proceeds of, criminal activity or from an act or acts of participation in criminal activity, for the purpose of or purposes of concealing or disguising the origin of the property or of assisting any person or persons involved or concerned in criminal activity; (ii) the concealment or disg uise of the true nature, source, location, disposition, movement, rights with respect of, in or over, or ownership of property, knowing or suspecting that such property is derived directly or indirectly from criminal activity or from an act or acts of participation in criminal activity; (iii) the acquisition, possession or use of property knowing or suspecting that the same was derived or originated directly or indirectly from criminal activity or from an act o r acts of participation in criminal activity; (iv) retention without reasonable excuse of property knowing or suspecting that the same was derived or originated directly or indirectly from criminal activity or from an act o r acts of participation in criminal activity; Cap. 9. (v) attempting any of the matters or activities defined in the above foregoing sub-paragraphs (i), (ii), (iii) and (iv) within the meaning of article 41 of the Criminal Code ; (vi) acting as an accomplice within the meaning of article 42 of the Criminal Code in respect of any of the matters or activities defined in the above foregoing sub- paragraphs (i), (ii), (iii), (iv) and (v); "prescribed" means prescribed b y regulations made under this Act; "property" means property and as sets of every kind, nature and description, whether movable or immovable, whether corporeal or incorporeal, tangible or intangible, legal documents or instrum ents evidencing title to, or interest in, such property or assets an d, without derogation from the generality of the foregoing, shall include - (a) any currency, whether or not the same is legal tender in Malta, bills, securities, bonds, negotiable instruments or any instrument capable of being negotiable including one payable to bearer or endorsed payable to bearer whether expressed in euro or any other foreign currency; (b) cash or currency deposits or accounts with any bank, credit or other institution as may be prescribed which carries or has carried o n business in Malta; PREVENTION OF MONEY LAUNDERING [CAP. 373. 3 (c) cash or items of value including but not limited to works of art or jeweller y or precious metals; and (d) land or any interest therein; "the Unit" means the unit established by article 15. (2) (a) A person may be convicted of a money laundering offence under this Act even in the absence of a judicial finding of guilt in respect of the underlying criminal activity, the existence of w hich may be established on the basis of circumstantial or other evidence without it being incumbent on the prosecution to prove a conviction in respect of the underlying criminal activity and without it being necessary to establish precisely which underlying activity. (b) A person can be separately charged and convicted of both a money laundering offence under this Act and of an underlying criminal activity from which the property or the proceeds, i n respect of which he is charged with money laundering, derived. (c) For the purposes of this sub-article, "underlying criminal activity" refers to the criminal activity from which the property or ot her proceeds, which are involved in a money laundering offence under this Act have been directly or indirectly derived. Added by: XXXI. 2001.3. PART I INVESTIGATION AND PROSECUTION OF OFFENCES Offences. Amended by: III. 2002.166; L.N. 425 of 2007; XXXI. 2007.44; L.N. 105 of 2008; XXXVIII. 2014.98; III. 2015.4; VIII. 2015.43; XV . 2021.2; VI.2024.12.