Money laundering can get you 10-year jail, OMR50,000 fine in Oman

Muscat: Institutions or individuals accused of money laundering or financing terrorism could face up to 10 years in prison and pay a fine of OMR50,000, according to the head of Public Prosecution in Al Buraimi.
The Directorate General for Family Development organised an awareness seminar on the fight against money laundering and terrorism financing at the childcare centre in Al Khoud.
The penalties and consequences of money laundering and terrorism financing were discussed by Suleiman Al Marjabi, head of Public Prosecution in Al Buraimi.
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“Any person, who has entered into an agreement or assistance to commit money laundering or terrorist financing, is responsible for the crime if committed in his name or for his account,” Al Marjabi said.
If caught, the penalty is imprisonment from six months to 10 years, and a fine of not less than OMR50,000.
“The aim of the seminar is to raise awareness among financial institutions, associations and non-profit organisations on the risks of money laundering and terrorist financing,” said Al Sayyid Marwan bin Turki Al Said, member of the National Committee for the Prevention of Money Laundering and the Financing of Terrorism, and chairman of the Technical Committee.
Salem Al Yahmadi, assistant director of the Department of Associations and Community Clubs, discussed the Ministry efforts to reduce the crimes of money laundering and terrorist financing.
“The ministry enacted legislation limiting the association’s dealings with individuals and external organisations without the prior approval of the Ministry, additionally not allowing foreign entities to establish associations or open branches in the Sultanate.”
In 2013, the ministry had carried out an induction seminar for NGOs to introduce them to the laws against money laundering. Furthermore, the Ministry continues to review the annual financial reports of NGOs,” Al Yahmadi added. The Ministry has also appointed specialists to deal with reports of suspected of money laundering cases. Article 5 of the NGO Law prohibits associations from joining or participating in an association or club outside the country except with the consent of the Minister.