Penalty for money laundering

A person who commits an offence under the provisions of section 3, is liable on conviction– (a) in the case of a natural person, to a fine of not be less than fifty thousand dollars but which may extend to two hundred and fifty thousand dollars, or to imprisonment for a term of not be less than five years but which may extend to ten years, or to both such fine and term of imprisonment; and (b) in the case of a legal person or other entity, to a fine of not be less than one hundred thousand dollars but which may extend to five hundred thousand dollars.