Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act

Acquiring, possessing, using, concealing or transferring benefits of criminal conduct

47.—(1) Any person who —

(a)	conceals or disguises any property which is, or in whole or in part, directly or indirectly, represents, his benefits from criminal conduct; [44/2007 wef 01/11/2007]
(b)	converts or transfers that property or removes it from the jurisdiction; or [44/2007 wef 01/11/2007]
(c)	acquires, possesses or uses that property, [44/2007 wef 01/11/2007]

shall be guilty of an offence.

[25/99]

(2) Any person who, knowing or having reasonable grounds to believe that any property is, or in whole or in part, directly or indirectly, represents, another person’s benefits from criminal conduct —

(a)	conceals or disguises that property; or
(b)	converts or transfers that property or removes it from the jurisdiction,

for the purpose of assisting any person to avoid prosecution for a serious offence or a foreign serious offence or the making or enforcement of a confiscation order shall be guilty of an offence.

[25/99]

(3) Any person who, knowing or having reasonable grounds to believe that any property is, or in whole or in part, directly or indirectly, represents, another person’s benefits from criminal conduct, acquires that property for no or inadequate consideration, or has possession of or uses such property, shall be guilty of an offence.

[44/2007 wef 01/11/2007]

[4/2010 wef 17/02/2010]

[25/99]

(4) In subsections (1)(a) and (2)(a), references to concealing or disguising any property include references to concealing or disguising its nature, source, location, disposition, movement or ownership or any rights with respect to it.

[25/99]

(5) For the purposes of subsection (3), consideration given for any property is inadequate if its value is significantly less than the market value of that property, and there shall not be treated as consideration the provision for any person of services or goods which are of assistance to him in criminal conduct.

[25/99]

(6) Any person who commits an offence under this section shall be liable on conviction —

(a)	if the person is an individual, to a fine not exceeding $500,000 or to imprisonment for a term not exceeding 7 years or to both; or [44/2007 wef 01/11/2007]
(b)	if the person is not an individual, to a fine not exceeding $1 million. [44/2007 wef 01/11/2007] [44/2007 wef 01/11/2007] [43A [25/99]

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