Section 37, Funds and Other Related Measures) Regulations, 2013

A person who contravenes any Regulation under this Partcommits an offence where– (a) in the case of funds, that person knows or ought to know or ought to have reasonably suspected that the funds were being made available directly or indirectly, to or for the benefit of a designated person or entity; or (b) in the case of other economic resources, that person knows or ought to know or have reasonable suspicion that the – (i) economic resources were being made available, directly or indirectly for the benefit of a designated person or entity; (ii) the designated person or entity would be likely to exchange the economic resources or use them in exchange for funds, goods or services.