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{
    "id": 681699,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/681699/?format=api",
    "text_counter": 473,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker. I started debate on the Proceeds of Crime and Anti-Money Laundering (Amendment) Bill (National Assembly Bill No.64 of 2015) last week. The Government continues to enhance measures to curb and combat money laundering. In that case, it is on December, 2009 when the Proceeds of Crime and Anti-Money Laundering Act was enacted. It came into effect in 28th June, 2010. This Act is the country’s sole primary legal regime for combating money laundering and proceeds of crime. So, this Act provides a comprehensive legal framework for dealing with the vice. It concerns how to deal with the proceeds of crime and money laundering. Money laundering, as you may be aware, is the process through which criminals disguise the origin of proceeds and legitimise their ill-gotten benefits of crime. The goal of many criminal acts is to generate profit for individuals or groups that carry out criminal activity; whether it is through corruption, terrorism, drug trafficking and, of course, through betting and lottery. It was very unfortunate that my colleague, Hon. Jakoyo Midiwo lost the Party Sponsored Motion. But, I want to tell those institutions and individuals involved in betting and money laundering that your days are numbered. We will reintroduce the Bill and regulations. The death of that Motion should not make you celebrate. We will deal with you, whether you own billions of shillings. I am sure Members have their rights within the Standing Orders. To the criminals, money laundering is a critical and important item that enables them to enjoy the profits they derive from their criminal activity without jeopardising their source. They hide the source, the trail and how they acquire that wealth. That is what we call “money laundering”. Illegal movement of huge sums of resources within the financial sector globally is what we call “money laundering”. For this and other reasons, money laundering is considered a close cousin of corruption. If you are talking about friends and relatives, money laundering is a friend and cousin to corruption. It is a brother to terrorism. It is a nephew to drug trafficking and all those bad things."
}