Money Laundering Offences
Money laundering is a serious offence and is defined as “the act of concealing the origins of money obtained through illegal activities.”
The Proceeds of Crime Act 2002 classifies the following activities as money laundering:
- Using criminal property
- Possessing criminal property, including goods & money
- Facilitating the acquisition or control of criminal property
- Concealing or disguising criminal property
The penalties for money laundering can be very severe, and include, depending on the severity of the offence:
- A maximum of 14 years’ imprisonment
- Assets frozen during investigation
- Substantial Fine
- Community punishment
Example of what could happen
As with a lot of our work, clients being investigated for money laundering can very quickly find themselves facing some or all of the following:
- Regulatory Investigations
- Restraint orders
- Confiscation proceedings
- Interviews with the authorities
For that reason, it is essential to contact us as soon as possible so that we can act quickly in beginning to plan for your defence. This will include, as appropriate:
- Gathering all the evidence obtained by the investigating bodies
- Money laundering cases in this country are routinely handled by the Police, HM Revenue and Customs and the Serious Fraud Office. They all have comprehensive investigative powers in this arena.
- Speaking to witnesses to get full and frank statements
- Consulting with external professionals, such as accountants and auditors
- Explaining all your options in a clear and concise manner
Contact us if you are being investigated for Money Laundering
If you are being investigated by a regulatory body for money laundering, please get in touch immediately. We have the experience and expertise to challenge the investigation and prepare a defence.
