Section 1(1) of Anti Money Laundering Act, 2008 (Act 749)

• A person commits an offence of money laundering if the person knows or ought to have known that property is or forms part of the proceeds of unlawful activity and the person
• converts, conceals, disguises or transfers the property
• conceals or disguises the unlawful origin of the property or
• Acquires, uses or takes possession of the property
• For the purposes of this act, unlawful activity means conduct which constitutes a serious offence, financing of a terrorist act or contravention of a law which occurs after the commencement of this act whether the conduct occurs in this country or elsewhere.