Money Laundering

Money laundering involves concealing the source of illegally obtained money. The range of money laundering offenses is established by sections 327 to 329 of the Proceeds of Crime Act (POCA), which can be grouped under three main headings: concealing, arranging, and acquiring. POCA offenses not only capture a person who is laundering their own proceeds but also extends to others involved, as long as they knew or suspected that the property in question was criminal property. The penalties for committing any of the above offenses are high, with the possibility of up to 14 years imprisonment, a fine, or both.

The Money Laundering Regulations, enforced in 2007, require businesses to implement various controls to protect themselves from money laundering, such as carrying out money laundering risk assessments, checking customer identities, and training employees. Businesses are obligated to report any activity that is suspected to be linked to money laundering in a Suspicious Activity Report (SAR) to the National Crime Agency (NCA).

Investigations into suspected money laundering activity and subsequent court proceedings tend to be complex and lengthy, requiring the disclosure and detailed analysis of large amounts of financial and other evidence. Grays defence solicitors work with highly qualified experts who assist their lawyers in examining complicated evidence. In such cases, the court may invoke one or more of its extensive powers for recovering the proceeds of crime during money laundering cases.

Facing money laundering investigations can be worrisome for both businesses and individuals. Grays Defence Solicitors specialize in serious fraud and complex crime and have secured many acquittals for their clients facing serious allegations. They regularly achieve success in varying and discharging POCA restraint orders and challenging confiscation orders that have arisen in the course of money laundering proceedings. They guarantee to do their best to reduce the stress and secure the best outcome for their clients, explaining the best course of action in a clear and comprehensible way, and keeping them informed throughout the case.

If you or your loved ones are under investigation and you require assistance at any stage of the proceedings, please feel free to get in touch with our friendly staff. We can be contacted on 01274 085199 or by email. We are solicitors covering cases on a national level so no matter where you are please do not hesitate to contact us.