Money Laundering and Proceeds of Crime Act Act No. 4/2013 “prescribed”, when used— (a) with reference to the Minister who prescribes or without reference to the person who prescribes, means prescribed by the Minister by regulations made under section 103; or (b) with reference to the Director who prescribes, means prescribed by directive; “proceeds” and “proceeds of crime” means any property or economic advantage derived from or obtained directly or indirectly through the commission of a criminal offence, including economic gains from the property and property converted or transformed, in full or in part, into other property; “property” means assets of every kind, whether tangible or intangible, corporeal or incorporeal, moveable or immovable, however acquired, and legal documents or instruments in any form, including electronic or digital, evidencing title to, or interest in, such assets, including but not limited to currency, bank credits, deposits and other financial resources, travellers cheques, bank cheques, money orders, shares, securities, bonds, drafts and letters of credit, whether situated in Zimbabwe or elsewhere, and includes an interest, whether full or partial, in any such property; “public authority or person” means any person, body, organ, agency or institution belonging to or employed by the State or a local authority; “record” means any material on which information is recorded or marked and which is capable of being read or understood by a person, or by an electronic system or other device; “Recovered Assets Fund” means the Fund established by section 97; “Reserve Bank” means the Reserve Bank of Zimbabwe referred to in section 4 of the Reserve Bank of Zimbabwe Act [Chapter 22:15]. “senior management” has the meaning given to it in section 13; “serious offence” means— (a) a money laundering offence; or (b) a terrorist financing offence; or (c) a terrorist act, under whatever offence that act is prosecuted; or (d) an offence for which the maximum penalty is death or life imprisonment; or (e) an offence for which the maximum penalty is imprisonment of four years or more, with or without the option of a fine; or (f) an offence under the law of a foreign State in relation to any act or omission which, had it occurred in Zimbabwe, would have constituted an offence under paragraph (a), (b), (c), (d) or (e); “shell bank” has the meaning given to it in section 13; “suspicious transaction report” has the meaning given to it in section 13; “tainted property” means— (a) proceeds from or instrumentalities of the commission of a serious offence, other than a terrorist act; or (b) property which has been, is being, or is intended to be used to commit a serious offence, other than a terrorist act; or (c) property which has been, is being, or is intended to be used by an organised criminal group; or (d) property owned or controlled by, or on behalf of, an organised criminal group; or - 10 -