money laundering "money laundering" means the act of a person who- (a) engages, directly or indirectly, in a transaction that involves proceeds of an unlawful activity; (b) acquires, receives, possesses, disguises, transfers, converts, exchanges, carries, disposes, uses, removes from or brings into Malaysia proceeds of any unlawful activity; or (c) conceals, disguises or impedes the establishment of the true nature, origin, location, movement, disposition, title of, rights with respect to, or ownership of, proceeds of an unlawful activity, [Am. Act A1208] where- (aa) as may be inferred from objective factual circumstance, the person knows or has reason to believe, that the property is proceeds from any unlawful activity; or (bb) in respect of the conduct of a natural person, the person without reasonable excuse fails to take reasonable steps to ascertain whether or not the property is proceeds from any unlawful activity; ACT 613 - ANTI-MONEY LAUNDERING AND ANTI-TERRORISM FINANCING ACT 2001 3. Interpretation.