Mr. Ali is the actual beneficial owner of the property even though legal title belongs to another person, making him guilty in the case. Mr. Musa opened a bank account using Mr. Ali's traders as the source and conducted illegal transactions, also making him guilty. The offense of money laundering is punishable by imprisonment from 1 to 10 years, a fine up to 1 million rupees, and forfeiture of the property involved in money laundering according to Section 4 of the Ordinance.

1. Prepared bY MuhammadZubair
1. Beneficial owner is a legal term where specific property rights ("use and title") in equity
belong to a person even though legal title of the property belongs to another person. Mr
Ali is actual beneficialownerinabove case
2. To independentlyoverseethe core processes,andtheirrelatedpoliciesandprocedures,that
seektoensure thatthe bankisconformingtoindustry-specificlawsandregulationsinletterand
spirit,therebymaintainingthe bank’sreputation.Mr.Musaisguiltyinthe above case he open
the account withsource of MR.Ali tradersandusingfor illegal transaction
3. Accordingto Section# 4 of the Ordinance the offence of moneylaunderingshall be punishable
withrigorousimprisonmentforatermwhichshall not be lessthanone yearbut may extendto
tenyearsand shall alsobe liable tofine whichmayextendtoone millionrupeesandshall also
be liable toforfeiture of propertyinvolvedinthe moneylaundering.
Note:If You foundanymistake kindlycorrecturself thankurememberme inurprayers