Anti-Money Laundering Law

Without prejudice to the rights of third parties acting in good faith, in the event of a conviction for a money laundering or predicate offence, the competent Court shall issue an order to confiscate the following: a. Laundered funds; b. Proceeds of the crime, including proceeds intermingled with funds acquired from legitimate sources up to the value of the intermingled proceeds; and c. Instrumentalities. 2. The competent court shall order the confiscation of funds regardless of whether the funds are held or owned by the defendant or a third party. Funds may not be confiscated if a third party can establish that he/she acquired the funds by paying a fair price or in return for the provision of services corresponding to the value of such funds or based on other legitimate grounds, and that he/she was unaware of their illicit origin. 3. The competent court may invalidate or prohibit an activity, whether contractual or otherwise, if one or more of the parties knew or should have known that such an activity could prejudice the ability of the competent authority to recover funds subject to confiscation.