The UK has some of the world’s toughest money laundering regulations. Even the most careful of businesses and individuals can unwittingly get caught up in money laundering offences.
Money laundering is the way in which money generated by illegal activities is disguised and then reintroduced into circulation after being passed through one or several legitimate businesses.
Changes in money laundering legislation, brought about by the Proceeds of Crime Act (POCA) 2002 and Money Laundering Regulations 2020, mean that more individuals or businesses handling money can fall foul of the legislation. Robust policies and systems are essential.
Money laundering offences are complex and can relate to transferring, converting and retaining criminal property as well as non-compliance under the regulatory regime. They are also increasingly used by enforcement agencies in fraud, corruption and financial crime cases.
How we can help
If you or your business is being investigated for money laundering it can have serious consequences including large fines, asset confiscation and imprisonment.
Your employees, family and friends may also face prosecution if the authorities believe they should have known that income may have come from dishonest or criminal means.
Getting expert advice at an early stage of an investigation can dramatically reduce the chances of a prosecution.
Our money laundering investigations lawyers have successfully represented professionals, including lawyers and accountants, individuals and company directors as well as numerous organisations being investigated for money laundering offences, securing excellent results for clients.