Money Laundering and Proceeds of Crime Act Act No. 4/2013 ACT To suppress the abuse of the financial system and enable the unlawful proceeds of all serious crime and terrorist acts to be identified, traced, frozen, seized and eventually confiscated; to repeal the Serious Offences (Confiscation of Profits) Act [Chapter 9:17]; to amend the Criminal Matters (Mutual Assistance) Act [Chapter 9:06], the Bank Use Promotion and Suppression of Money Laundering Act [Chapter 24:24], the Building Societies Act [Chapter 24:02] and the Asset Management Act [Chapter 24:26]1; and to provide for matters connected therewith or incidental thereto. ENACTED by the President and the Parliament of Zimbabwe. WHEREAS section 111B of the Constitution provides as follows: (1) Except as otherwise provided by this Constitution or by or under an Act of Parliament, any convention, treaty or agreement acceded to, concluded or executed by or under the authority of the President with one or more foreign states or governments or international organizations— (a) shall be subject to approval by Parliament; and (b) shall not form part of the law of Zimbabwe unless it has been incorporated into the law by or under an Act of Parliament. AND WHEREAS the International Convention for the Suppression of the Financing of Terrorism was adopted by the General Assembly of the United Nations Organisation by Resolution 54/109 of 9 December, 1999, and entered into force on the 10th April, 2002; AND WHEREAS since 1999 Zimbabwe has been a member of the Eastern and Southern African Anti Money Laundering Group (ESAAMLG), a body whose object is to adopt and implement measures to combat money-laundering and the financing of terrorism and serious crime; AND WHEREAS by virtue of its membership of ESAAMLG, Zimbabwe is pledged to implement recommendations issued by an inter-governmental organisation called the Financial Action Task Force (FATF), whose 40 recommendations are regarded as representing international standards to which all states should aspire ; AND WHEREAS Zimbabwe is desirous of fulfilling its obligations under the International Convention for the Suppression of the Financing of Terrorism and implementing the said FATF recommendations; NOW THEREFORE, be it enacted by the President and Parliament of Zimbabwe as follows:— 1 Also amended: Suppression of Foreign and International Terrorism Act [see section 106 below] -6-