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CASH DEMANDING SELLERS RUN THE RISK OF BEING IMPLICATED IN MONEY LAUNDERING

Property sellers who demand cash run the risk of being implicated in money laundering crimes
because proceeds from crime that perpetrators would want to “clean” are usually in the form of large amounts of cash. Real estate sellers can be found guilty of money laundering if they knew or suspected that the money paid by a buyer was “proceeds of crime” at the time of receipt according to the Money Laundering And Proceeds of Crime Act. On 12 January 2014 The Sunday Mail reported that President Mugabe invoked the Presidential Powers ( Temporary Measures) through Statutory Instrument 2 of 2014 and increased “penalties for serious offenders from US$600 to a punitive US500 000 ” - the penalties may include imprisonment of up to 25 years. 

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