The amended laws, allow police to block suspicious transactions in any bank or financial institution in a bid to stop scammers from withdrawing stolen money from mule accounts. These amendments allow police officers of at least the rank of sergeant to seize or prohibit transactions involving funds suspected to be tied to criminal activities. However, the police can only freeze the accounts if: 1) There was reason to believe that an offence had been committed. 2) There was reason to suspect that the property had been used or was used with the purpose of committing an offence. 3) There is reason to believe that the property is evidence for an offence. https://lnkd.in/gV8-Hvs8
Thanks for sharing
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Head of AML Advisory & Training, PhD candidate (Law), AML/CFT Trainer, Practitioner, Researcher, Former AML/CFT Examination Committee member, HRD Corp Accredited Trainer, Certified Financial Investigator (AML/CFT), CISAM
1moVery informative