By Edwin Muhumuza

Parliament has been urged to stream line the anti-terrorism law. This was as officials from the financial intelligence authority appeared before the defense committee.

Led by executive director, Syney Asubo, concerns were raised over repetition and inter-twining of other related laws as hindering the monitoring of financing terrorism and other crimes.

Money laundering is the process by which criminals disguise the original ownership and control of proceeds of criminal activities by making such proceeds appear to have been derived from a legitimate source.

Asubo, also refutted claims that the law was targeting opposition politicians following concerns from sections of the public regarding its timing.

The anti-money laundering law provides that persons who convert, transfer or transport property suspected to be proceeds from crime, or assist another person to benefit from such transactions, are liable to imprisonment for a period not exceeding 15 years or a fine not exceeding sh2b or both.

Apart from criminalizing money laundering, the law also provides for specific measures to detect and deter money laundering and to facilitate the investigation and prosecution of offenders.

The Act also makes it mandatory for accountable persons, banks inclusive, to declare any suspicious transactions.

Photo: Daily Monitor