- .Director Disqualification
- .Proceeds of Crime Act (POCA)
- .Confiscation Order Proceedings
- .Restraint Orders
- .Anti-Money Laundering
- .Appeals to the Court of Appeal
- .Boiler Room Fraud
- .Asset Forfeiture & Cash Seizures
- .Commercial Litigation
- .Company Fraud
- .Dawn Raids and Seizure
- .Diversion Fraud
- .False Accounting Fraud
- .Financial Fraud
- .Fraudulent Trading
- .Industry Advice
- .Insider Trading Solicitors
- .Insolvency Claims
- .Investment Fraud – Pyramid Schemes
- .Regulatory Disputes
- .What is Advance Fee Fraud?
For more information get in touch with our team
If you are concerned that you are likely to be investigated for this offence, the specialist money laundering checks solicitors at DPP Business and Tax can assist you.
Whether you have only just discovered that anti-money laundering checks have resulted in an investigation being launched, or you’re preparing to defend yourself in court, having been charged with this offence.
We’ll use independent experts to re-examine all evidence used by the prosecution and help you to collect your own. We’ll represent you at any hearing or interview you may be required to attend, as well as in the courtroom. We’ll also assist you in the building of your defence to ensure that you have the best possible chance of success.
The experts at DPP Business and Tax can also help you to ensure that the anti-money laundering procedures your company has in place are as effective as they could be, and will provide guidance to help you improve them if required.
Implications of Accusations of Money Laundering
Money laundering involves handling the proceeds of crime and disposing of or concealing evidence of wrongdoing, this particular offence is taken very seriously by UK law.
Money laundering penalties are severe, and businesses are required to put in place strict anti-money laundering procedures by the Financial Conduct Authority (FCA).
Failure to do this may result in your business becoming the subject of a money laundering investigation.
If a money laundering investigation has been launched against you, it’s possible that you will be charged with any of the following offences:
- Serious fraud
- Concealing or disguising criminal property (Section 327 POCA 2002)
- Arrangements, or the facilitation of money laundering (Section 328 POCA 2002)
- The acquisition, use or possession of criminal property or monies (Section 329 POCA 2002)
You may be accused of being involved in any or all of the following stages of money laundering:
This is the term used to describe the transferring of funds from a criminal source into the wider financial system of the UK.
This is a technique that uses a purposefully complicated and convoluted series of transfers and transactions – often involving offshore accounts – in order to see amounts transferred into the wider financial system without being traced back to their sources.
This describes the process of moving money into the wider financial system by making sophisticated investments in order to mask its true source.
The Proceeds of Crime Act 2002 states that any of the above offences are punishable by money laundering penalties of up to 14 years in prison on indictment, or 6 months if it is tried as a summary offence. The guilty party may also be served with an unlimited fine.
In order to properly defend yourself against this potential outcome, it’s vital to make contact with trusted money laundering checks solicitors as soon as you become aware that an investigation is likely to take place.
Frequently Asked Questions
What is anti-money laundering?
Anti-money laundering checks, procedures and regulations refer to action that must be taken to prevent individuals or organisations defrauding others and then concealing or disguising the amounts that are taken.
They can involve anything from companies putting processes in place to prevent the possibility of money laundering on their premises, to individuals tipping off money laundering suspects to the police.
How many stages of money laundering are there?
Money laundering usually follows this pattern: 1. Placement, 2. Layering and 3. Integration. The first step involves the transfer of money from the original source. The second refers to the means of disguising the route of the money to make it as hard as possible to trace. The third is the means used to re-enter the amount into the economy.
What is a money laundering check?
Anti-money laundering checks are usually undertaken when a new client – or one who hasn’t had interaction with a company for some time – makes contact with a view to doing business. They exist to ensure that everyone involved is who they claim to be, and that all transactions are above board and honest. It is just one of the ways in which these offences can be prevented. If something appears untoward within a check, a money laundering investigation may be launched.
If you are concerned that you may be facing money laundering penalties for any of your past activities, or that you have been the subject of someone mistakenly tipping off money laundering activity to the police or FCA, contact our specialist money laundering checks solicitors today. Our team are highly experienced in the complex processes involved in a money laundering investigation, and we will talk you through every step with clarity and transparency, while helping you to build the best defence possible.