Will landlords face money laundering charges for renting to counterfeit sellers?

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Landlords May Face Money Laundering Charges for Renting to Counterfeit Sellers

Owners who rent out their premises to syndicates involved in selling counterfeit products can be charged with money laundering offences. This action will be taken under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA) 2001, specifically for collusion with such syndicates.
Legal Ramifications Under AMLA 2001

Action will be pursued against property owners found to be knowingly renting their spaces to syndicates engaged in the sale of counterfeit goods. The Domestic Trade and Consumer Affairs Ministry secretary-general, Datuk Seri Hasnol Zam Zam Ahmad, indicated that stern measures would be implemented under AMLA. This legislation targets the facilitation of illegal activities through property rental, holding owners accountable for the use of their premises.
Emphasis on Owner Responsibility

The ministry is urging property owners to exercise greater diligence and responsibility. This includes thoroughly vetting potential tenants and verifying their backgrounds before entering into rental agreements. The directive emphasizes that owners should not solely prioritise profit without considering the legitimacy of their tenants' business operations, thereby preventing their properties from being exploited for illicit trade.
Broader Enforcement Measures

Beyond direct charges, the ministry also stated its intention to report any discovered premises used for selling counterfeit products to local authorities. Furthermore, cooperation with the Immigration Department of Malaysia is planned if counterfeit syndicates involve foreign nationals. These comprehensive measures aim to dismantle the infrastructure supporting the trade in fake goods.

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Will landlords face money laundering charges for renting to counterfeit sellers?

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