A person shall be deemed to have committed a money laundering crime if he:

• 1. transfers, transports, or conducts any transaction involving funds with the knowledge that they are proceeds of a crime with the intent to conceal or disguise their illicit origin, or aids a person involved in committing the predicate offense through which such funds were acquired to evade legal consequences;

• 2. acquires, possesses, or uses funds with the knowledge that they are proceeds of a crime or obtained from an illicit source;

• 3. conceals or disguises the nature, source, movement, ownership, location, and manner of disposition, as well as any associated rights, with the knowledge that they are proceeds of a crime; or

• 4. attempts to commit any of the acts stipulated in paragraphs (1), 2), and (3) of this Article, or participates in the commission thereof through agreement, assistance, incitement, guidance, advice, facilitation, collusion, concealment, or conspiracy.

A legal person shall be deemed to have committed a money laundering crime if any of the acts stipulated in Article 2 of this Law is committed in its name or for its account, without prejudice to the criminal liability of the chairmen and members of its boards of directors, as well as its owners, employees, authorized representatives, auditors, or any other natural person acting in its name or for its account.

1. A money laundering crime shall constitute a crime separate from the predicate offense. A person need not be convicted of a predicate offense in order to be convicted of a money laundering crime or for funds to be considered proceeds of a crime, regardless of whether the predicate offense is committed within the Kingdom or abroad.

2. The intent, knowledge, or purpose of committing a money laundering crime shall be established based on the facts and substantive circumstances of the case.

Financial institutions and designated non-financial businesses and professions shall identify, assess, document, and regularly update risk assessment of money laundering by using different risk assessment methods, including factors related to their customers, other countries, geographical areas, products, services, transactions, and delivery channels, and they shall provide reports thereon to the monitoring agencies upon request. They shall also consider, prior to implementation, the risks associated with new products, business practices, and technologies.

Financial institutions and designated non-financial businesses and professions shall:

• 1. apply due diligence measures in dealings with their customers. The Regulations shall determine the types of measures and the cases where they shall be applied; and

• 2. set the scope of due diligence measures based on the level of risk associated with the customer, businesses, or commercial relationships. Enhanced due diligence measures shall apply where the risk of money laundering is high.