Mkanganyiko wa Sheria ya Kutakatisha Fedha - Albert Msando

[Magazetini]

Money Laundering: Misconceptions and Prosecution Blunders: By Albert Msando, Advocate:

Contrary to the common idiom, crime often pays. It can pay so much, in fact, that people with illegally acquired funds often develop complicated plans to make it appear as if the money originated from a legal source. This is money laundering.

Money laundering occurs whenever a person attempts to conceal the source, destination, or identity of illegally obtained or acquired money.

Spending vs Concealment

Money laundering applies when a person attempts to conceal illegally obtained funds, but it doesn't include merely spending money.

If, for example, you make Tshs. 1,000,000 selling stolen goods and then go out and buy land, you have not laundered any money.

Though you have committed the crime of dealing in stolen goods, to be convicted of money laundering you'd need to try to conceal or disguise where the money originated, or otherwise disguise it.

Concealment:

In order to prove money laundering charges, prosecutors must show a person concealed money specifically to conceal the location, ownership, source, nature, or control of the money.

It isn't money laundering, for example, to try to conceal money during transportation by putting it in a hidden place. Laundering would involve taking that money and trying to make it appear as if it came from a legitimate source.

Criminal Proceeds or Criminal Receipts

Money laundering laws don't apply when someone is simply making money from crime.

For example, if you decide to run an illegal lottery in which you collect money from people who play and then pay the winners, this isn't money laundering.

Though you're receiving money from illegal activity and using that money to pay winners, money laundering requires that you in some way try to hide the profits from your activity. Paying money to winners isn't considered concealing profits.

Illegal Activity

Money laundering targets the specific act of concealing, or attempting to conceal, the ill-begotten proceeds of criminal activity. There must be some criminal activity involved that produced the profits before it can be money laundering.

If, for example, you make Tshs. 10,000,000 by selling a car and then try to hide that money from the TRA, you haven't committed money laundering. You've violated tax laws, but because the sale of the car was legal your actions do not count as money laundering.

But due to lack of both of knowledge and experience the prosecutors use the Anti-Money Laundering Act as a stick instead of a deterrent and enforcement tool to deal with the serious money laundering crimes. As it is now any offence can be money laundering!

And things do not end there. The fact that the offence is unbailable makes it a prosecutor's mine field to punish all those who are unlucky to be on the black books.

To be continued...

 

[Deo Corleone]

Ishu ya kina Kitilya inatafsiriwaje!

 

[luckman]

stages/phases of money landering.

The placement stage represents the initial entry of the "dirty" cash or proceeds of crime into the financial system. Generally, this stage serves two purposes: (a) it relieves the criminal of holding and guarding large amounts of bulky of cash; and (b) it places the money into the legitimate financial system. It is during the placement stage that money launderers are the most vulnerable to being caught. This is due to the fact that placing large amounts of money (cash) into the legitimate financial system may raise suspicions of officials.

The placement of the proceeds of crime can be done in a number of ways. For example, cash could be packed into a suitcase and smuggled to a country, or the launderer could use smurfs to defeat reporting threshold laws and avoid suspicion. Some other common methods include:

Loan Repayment
Repayment of loans or credit cards with illegal proceeds
Gambling
Purchase of gambling chips or placing bets on sporting events
Currency Smuggling
The physical movement of illegal currency or monetary instruments over the border
Currency Exchanges
Purchasing foreign money with illegal funds through foreign currency exchanges
Blending Funds
Using a legitimate cash focused business to co-mingle dirty funds with the day's legitimate sales receipts

This environment has resulted in a situation where officials in these jurisdictions are either unwilling due to regulations, or refuse to cooperate in requests for assistance during international money laundering investigations.

To combat this and other international impediments to effective money laundering investigations, many like-minded countries have met to develop, coordinate, and share model legislation, multilateral agreements, trends & intelligence, and other information. For example, such international watchdogs as the Financial Action Task Force (FATF) evolved out of these discussions.

The Layering Stage
After placement comes the layering stage (sometimes referred to as structuring). The layering stage is the most complex and often entails the international movement of the funds. The primary purpose of this stage is to separate the illicit money from its source. This is done by the sophisticated layering of financial transactions that obscure the audit trail and sever the link with the original crime.

During this stage, for example, the money launderers may begin by moving funds electronically from one country to another, then divide them into investments placed in advanced financial options or overseas markets; constantly moving them to elude detection; each time, exploiting loopholes or discrepancies in legislation and taking advantage of delays in judicial or police cooperation.

The Integration Stage
The final stage of the money laundering process is termed the integration stage. It is at the integration stage where the money is returned to the criminal from what seem to be legitimate sources. Having been placed initially as cash and layered through a number of financial transactions, the criminal proceeds are now fully integrated into the financial system and can be used for any purpose.

There are many different ways in which the laundered money can be integrated back with the criminal; however, the major objective at this stage is to reunite the money with the criminal in a manner that does not draw attention and appears to result from a legitimate source. For example, the purchases of property, art work, jewellery, or high-end automobiles are common ways for the launderer to enjoy their illegal profits without necessarily drawing attention to themselves.

let us procced with the conversation.

 

[Lancashire]

Lawyers Battle..

 

[MTAZAMO]

Hili mbona ni very basic na halihitaji mjadala? Makosa yanayoainishwa na Msando kama yapo yanafanywa makusudi lakini si sababu ya uelewa wa prosecutors kuhusu AML Act. Mashtaka kupindishwa sababu za kisiasa au kukomoana kupo muda mrefu tu.
Ni vyema akitupa mifano halisi pia ili tusijadili kisichokuwepo.

 

[mgt software]

Money launderers hii sheria ina tafsiri ngumu sana, ikikutana na wababaishaji kama Msando utaumiza kichwa wakati vitu viko wazi tu.

 

[Wakudadavuwa]

Hili mbona ni very basic na halihitaji mjadala? Makosa yanayoainishwa na Msando kama yapo yanafanywa makusudi lakini si sababu ya uelewa wa prosecutors kuhusu AML Act. Mashtaka kupindishwa sababu za kisiasa au kukomoana kupo muda mrefu tu.
Ni vyema akitupa mifano halisi pia ili tusijadili kisichokuwepo.

Tatizo la Msando ni kama Zitto,huwa hawapendi kuonyesha upande wao ili kutengeneza fursa ya "unabii" kwa matokeo yoyote...yawe halali au sio halali...jambo lingine wanasheria makanjanja hupenda kutengeneza mkanganyo ili kupata ajira.

 

[macho_mdiliko]

Tatizo la Msando ni kama Zitto,huwa hawapendi kuonyesha upande wao ili kutengeneza fursa ya "unabii" kwa matokeo yoyote...yawe halali au sio halali...jambo lingine wanasheria makanjanja hupenda kutengeneza mkanganyo ili kupata ajira.

Umekomolea msumari koo. Wewe hawa watu unawajua in and out! Hongera sana kwa kusema ukweli

 

[Leak]

MsandoAlberto kwanza declare interest

 

[bigonzo]

Msando anawatetea mafisadi

 

[mwanadome]

Uga wa wanasheria huu wenzangu na mimi tuwe wapoleee,

 

[Yohana Kilimba]

Atililike Zaidi

 

[my rita]

Hhhhh

 

[Songambele]

Kisu hapa kimegusa mfupa, sie yetu macho akikamtwa mtu mwenye pesa au madaraka inabidi litengenezwe kosa la kujaribu kusafisha waarifu.

Msando anatafuta kichaka yeye akasemee haya mahakamani ili ashinde kesi, hii si ndio ile siku wakiachiwa tu wanakamatwa hapo hapo mahakamani kwa kosa lao style hapa ni ile displine kwanza mwenye hela kumuweka lupango timing lazima.

 

[Yohana Kilimba]

Msando anawatetea mafisadi

mafisadi nao ni watu ujue!na wana haki ya kutetewa!na kisheria hawana hatia mpaka mahakamana iseme hivyo

 

[HIMARS]

Hii kesi mwisho wake itakuwa fine tu

 

[BABA Dillish]

anatangaza biashara yake wamuone mjuzi wa kuwaokoa hao mafisadi.

AMA KWELI TAMAA NI MBAYA SANA.

 

[ibra87]

Msando anapotafuta njia ya kupata Kazi huku akishindwa kuuoanisha ukweli

 

[Lavit]

Kipi hasa hufanyika katika hili? Je ina athari gani kiuchumi??

 

[Kigodoro]

Are u preemptively predicting the failure of the court to criminize "our" former revenue authoirty boss?
If that happens, should we be convinced that all lawyers presiding over this case lack knowledge and experiences as u pointed out?