Section 16: Offences relating to false information.

(1) Any person who in the discharge of his duty under this Act gives information which is false in any material particular to a public officer or any person who is to take decision or do any other act in relation thereto commits an offence under this Act and the onus shall be on him to prove that he exercised due diligence to prevent the commission of the offence having regards to the nature of his function and circumstances.
(2) The penalty for the offence under subsection (1) of this section shall be imprisonment for a term not less than 2 years and not more than 3 years provided that where the offender is a public officer the penalty shall be imprisonment for a term not less than 3 years and not more than 5 years.
(3) Without prejudice to the provisions of any other enactment, any regulatory agency or body in the financial sector shall in the exercise of its functions, liaise with the Commission to investigate and monitor the commission of economic and financial crimes.