Money Laundering / Confiscation Proceedings
What is money laundering?
Money laundering is the generic term used to describe the process by which an individual disguises the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source.
The principal money laundering offences are created via The Proceeds of Crime Act and are:
• The concealing offence (section 327)
• The arranging offence (section 328)
• The acquisition, use or possession offence. (s329)
There is no requirement of dishonesty to establish this offence. Each of these offences are triable either way. They can either be tried at The Magistrates Court or The Crown Court.
The principal defence to money laundering include making an authorised disclosure under section 332 and receiving appropriate consent to a transaction. There are other defences including having a reasonable excuse for not making a disclosure section 338 and believing the conduct occurred outside of the UK and was not unlawful in the territory in which is occurred.
The Proceeds of Crime Act can apply if an individual is accused of fraud or money laundering offences. The prosecution will assume all income, goods, transactions are derived from an illegitimate source.
However, it would be for the accused to show all income, transactions, goods were derived from a legitimate source.
The following table illustrates the key considerations which will be made to ascertain whether a confiscation order is necessary:
If you, or someone you know have been accused with this offence Contact Us now. We have a history of representing clients who have been accused of money laundering. This is a serious offence and could have an impact on your livelihood, therefore it is crucial that you have a solicitor that fights for your best interest.