Alamat website sek3/11/2023 “To conclude the discussion on the definition of “thing” and “property” and the position of a bank account under s. 3 and 56(1)(d) AMLATFPUAA (Anti-Money Laundering, Financing of Terrorism and Proceeds of Unlawful Activity Act 2001), this court's findings are hereby summarised as follows: (i) a bank account is not a “thing” under the limb (a) of the definition of “instrumentalities” (ii) whilst cash standing credit in a bank account is an asset and a property, a bank account on the other hand is not an “asset” under limb (a) to the definition of “property” (iii) a bank account is not a “legal document or instrument” or “deposits and other financial resources” under limb (b) to the definition of “property”, and hence (iv) a bank account is not a “property” under s. 3 and it further follows therefore (v) a bank account is not “instrumentalities of an offence” under s. 3 and 56(1)(d) and finally and (vi) a bank account cannot be the subject of forfeiture under s. 56(1)(d) AMLATFPUAA.”
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