Anti-money laundering solicitors
The Proceeds of Crime Act 2002 has made the definition of ‘money laundering’ broader than ever. As legal experts in this field we’ve the experience to advise you on compliance or to defend you in court.
Under suspicion of money laundering?
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Why have we been accused of money laundering?
Money laundering is the generic term for any activities that turns criminally obtained money or property into assets that appear to have been obtained legitimately. Money laundering is a key objective of criminals yet it’s often the case that innocent parties are caught up in money laundering investigations due to inadequate internal procedures.
It’s also worth noting that the (POCA) widened the definition of money laundering to encompass the proceeds of any criminal act. For example, your business may have made a small profit on a minor tax evasion or regulatory breach, which then passes into company accounts. That money is then treated as a ‘proceed of crime’, potentially adding a criminal charge of money laundering to whatever action might be taken by or the relevant regulatory body.
What if we are unaware of money-laundering activities?
A large number of companies and individuals have significant exposure to the risk of prosecution for offences arising out of suspicious financial activity. In fact, even conveyancing Solicitors have to be extremely watchful, as the purchase of residential and commercial property is a popular way to launder the proceeds of crime. That’s why you’ll always have to account for the source of any cash used in the purchase of a property.
A tangential involvement in a money laundering investigation need not necessarily lead to a successful prosecution. The proceeds of criminal activity that may have occurred anywhere in the world can make their way to these shores by many routes. The legal test is that you risk prosecution and a severe sentence only if you knew or should reasonably have suspected that money or assets you were dealing with represented the proceeds of crime.
If you’re under investigation for suspected money laundering - or have been made the subject of a to freeze your personal or business assets - you should contact our specialist solicitors right away. Slater and Gordon is widely acknowledged as having expertise in defending clients against charges of money laundering, fraud, bribery and other white collar crimes.
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