Lawyer Nguyen Duc, former Chairman of the Provincial Bar Association, conveys the provisions of the Penal Code to village and commune officials in Vinh Cuu district (illustration image)

Lawyer Nguyen Duc, former Chairman of the Provincial Bar Association (term 2014-2019), said that money laundering is an act of legalizing money and property acquired by crime and this crime is always associated with violations. other crime. Article 324, Penal Code 2015 (amended and supplemented in 2017) stipulates that money laundering has a penalty of 1-15 years in prison.

Watching: What is Money Laundering?

* Basis for determining the act of money laundering

Resolution 03 is one of the important grounds for determining money laundering. According to Resolution 03, the determination of money laundering offenses is based on one of the following documents: Court judgments and decisions; documents and evidences provided by competent procedure-conducting agencies (for example, decisions to prosecute the case, investigation conclusions, indictments…); documents, other evidence to determine the offence (e.g. documents, evidence of the International Criminal Police organization (Interpol), the international financial task force (FATF), relevant documents criminal legal aid…). Lawyer Nguyen Duc emphasized, without the above evidences, the prosecution agency is not qualified to accuse individuals and groups of committing money laundering.

Lawyer Nguyen Duc analyzed, according to Resolution 03, there are 4 ways to know or have a basis to know money and property that other people have committed crimes. Specifically: the offender directly knows money and property that other people have committed the crime. Through the mass media, offenders learn that other people commit crimes. By common sense, offenders can know the money and property that other people have committed the crime (for example, knowing that their husband is an employee of a state agency with a salary of 8 million VND/month and no money. Other sources of income, but A still receives from her husband an amount of VND 10 billion to contribute capital to the business without asking clearly about the source of the money). According to the provisions of the law, the offender is required to know the origin of money and property obtained by other people who commit the crime (for example, A buys B’s car without papers for a price equal to 1/10 of its value. that car).

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* The nature of the crime of money laundering

The crime of money laundering is essentially an act of legalizing money and property obtained from a crime and this crime is always associated with other criminal acts, especially economic crimes such as smuggling, trading. illegal, tax evasion; corruption crimes; drug crimes…

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Lawyer Luu Hong Khanh (Provincial Bar Association) explained, money laundering is turning illegal money or property into legal property by through financial operations, banking or other transactions; use such money or property to conduct other business or economic activities; conceal the illegal origin of money or property, as well as information about the origin, true nature, location, movement, or ownership of money or property known to be the result of a crime without have or impede the verification of such information.

According to the provisions of Clause 1, Article 324 of the Penal Code as amended and supplemented in 2017, a person commits money laundering when committing one of the following acts: first, participating directly or indirectly into financial, banking or other transactions in order to conceal the illegal origin of money or property that they have committed, or know or have grounds for, to know that other people commit crimes.

Second, using money and property that one has committed a crime that has or knows or has grounds to know is another person’s crime committed by another person to conduct business activities or other activities. Third, conceal information about the origin, true nature, location, movement or ownership of money or property because of the crime that they have committed or know or have grounds to know is due to the person who committed the crime. other offenders that obtain or impede the verification of such information.

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A crime is considered complete when the offender commits one of the above acts without determining the consequences. If the consequences caused by the act of money laundering are serious, very serious and especially serious, the offenders shall be examined for penal liability according to Clause 2 or Clause 3 of Article 324 of the current Penal Code.” – Lawyer Luu Hong Khanh emphasized.