Money Laundering, Proceeds of Serious Crime, and Terrorist Financing in Malawi

If you require specific legal guidance on these topics, please consult a qualified attorney licensed in Malawi.

What is Money Laundering?

• Concealing or disguising the origins of money obtained illegally
• Examples:
  • Hiding it in a legitimate business or activity

Key Concepts:

Proceeds of Serious Crime

• Income generated from illegal activities
• Can include funds earned from criminal operations

Serious Crimes

• Offenses punishable by imprisonment for more than one year
• Examples:
  • Murder
  • Rape
  • Fraud

Terrorist Financing

• Funding of terrorist activities or organizations

Relevant Agencies and Laws:

Financial Intelligence Unit (FIU)

• Investigates financial crimes in Malawi

Director of Public Prosecutions

• Government official with authority over prosecution matters in Malawi

Banking Act

• Law regulating banking practices in Malawi

If you need specific legal advice, I recommend consulting a qualified attorney who can provide tailored guidance.