Liberia’s Prevention of Money Laundering Law

Liberia passed its Prevention of Money Laundering Law, which added a sub-chapter G to Chapter 15 of its Penal Law, in June 2002. The Prevention of Money Laundering Law contains detailed provisions which establish money laundering offenses and related sanctions (including the confiscation of the proceeds of criminal conduct), as well as measures to prevent the use of the financial system for the purposes of money laundering.

The following questions have been addressed in this article:

How is 'relevant financial business' defined in Part III of the law?
How does the law affect business employees?
What defense may be used in proceedings against a person for an offense of carrying out relevant financial business in contravention of this Law?

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