Retention of property and records under AML Act
Retention of property and records under AML Act: Where any property has been seized under section 14 or section 15 and the investigating officer has, on the basis of material in his possession, reason to believe that such property is required to be retained for the purposes of investigation under section 9, such property may be retained for a period not exceeding ninety days from the time such property was seized:
Provided that the investigating officer shall duly inform the Court about any peculiar nature of the seized property and, where necessary, seek appropriate directions for its proper care during retention.
(2) The investigating officer, immediately after he has passed an order for retention of property for purposes of investigation under section 9, shall forward a copy of the order to the head of the concerned investigating or prosecuting agency in a sealed envelop.
(3) On the expiry of the period specified under sub-section (1), the property shall be returned to the person from whom such property was seized unless the Court permits retention of such property beyond the said period.
(4) The Court, before authorizing the retention of such property beyond the period specified in sub-section (1), shall satisfy itself that the property is prima facie property involved in money laundering and the property is required for the purposes of investigation under section 9.
Retention of records
Where any record has been seized under section 14 or section 15 and the investigating officer has reason to believe that any of such records are required to be retained for an investigation under this Act, he may retain such records for a period not exceeding ninety days from the time the record was seized.
(2) The person, from whom records were seized, shall be entitled to obtain copies of records retained under sub-section (1).
(3) On the expiry of the period specified under sub-section (1), the records shall be returned to the person from whom such records were seized unless the Court permits retention of such records beyond the said period.
(4) The Court before authorizing the retention of such records beyond the period mentioned in sub-section (1) shall satisfy itself that the records were required for the purposes of investigation under section 9.
Presumption as to records or property in certain cases
Where any document of public record is found in the possession or control of any person in the course of a survey or a search under this Act or where any records have been received from any place outside Pakistan duly authenticated by such authority or person and in such manner as may be prescribed in the course of proceedings under this Act, the Court or the investigating or prosecuting agency as the case may be, shall-
(a) presume, that the signature and every other part of such record which purports to be in the hand writing of any particular person
or which the Court may reasonably assume to have been signed, by or to be in the hand writing of, any particular person, is in that person’s hand writing; and in the case of a record executed or attested, that it was executed or attested by the person by whom it purports to have so executed or attested; and
(b) admit the document in evidence, notwithstanding that it is not duly stamped, if such document is otherwise admissible in evidence.
Anti Money Laundering Training
Anti Money Laundering Training / Financial Crime training is available in Lahore, Islamabad, Karachi Pakistan as “online live training” or “onsite live training”.
This training on Anti Money Laundering in Lahore will cover different types of anti money laundering schemes and will equip participants in knowing how to analyze them and how to identify leads.
This training on Anti Money Laundering in Lahore, Islamabad, Karachi, Faisalabad is also available as inhouse training option for companies all over Pakistan.
