Money laundering legislation is complex. There have been significant developments in this area of law in the past decade heralded by the Proceeds of Crime Act 2002 ('POCA'). That is why it is vital that you choose a law firm that possesses a solid and experienced grounding in this rapidly changing field. Brett Wilson LLP is listed in the Legal 500 as leading firm in both Fraud/White-Collar Crime and Crime.
For a confidential discussion about your case with one of our approachable and knowledgeable solicitors specialising in allegations of money laundering then please call us on 020 7183 8950 or simply send us an email.
Proceeds of Crime Act 2002
Since the inception of POCA, the powers available to agencies of the state in connection with money laundering investigations have increased dramatically. The statutory definition of money laundering is much wider than might be imagined. POCA makes it an offence to deal in any way with property where the individual knows, believes or suspects that it represents the proceeds of criminal activity. Money laundering can be charged as a “bolt-on” offence (most typically next to a count of fraud) or on its own. It will often affect those on the very periphery of an investigation who come to the attention of the authorities by virtue of having received money alleged to be “dirty”.
POCA also places positive obligations on the regulated sector to disclose the existence of suspicious transactions to the National Crime Agency (‘NCA’). These are known as Suspicious Activity Reports (‘SAR’s). In such circumstances, a transaction may be delayed (e.g. a bank account frozen/inhibited) whilst the matter is investigated by NCA. As notifying an individual or corporation of a SAR is an offence in its own right, one can be left in the dark and often without access to funds or redress. This can cause significant inconvenience and/or disruption to individuals and businesses and may call for a robust response. In most instances a SAR will be cleared by the NCA, but in some cases it is the precursor to a criminal investigation or an application for a civil recovery order by the NCA. An application for a restraint order or a freezing injunction may promptly follow. Brett Wilson LLP is almost uniquely placed to advise and represent individuals on these matters and the interplay between criminal and civil proceedings.
Our Money Laundering Litigation expertise
At Brett Wilson LLP you can trust us to:
- Give advice to individual and corporate clients regarding money laundering regulations and financial regulatory issues.
- Advise in connection with potential personal liability for money laundering offences.
- Provide representation in connection with investigations conducted by the Serious Fraud
Office (‘SFO’), the National Crime Agency (‘NCA’), the Financial Conduct Authority (‘FCA’), the City of London Police, HM Customs & Excise and other law enforcement agencies.
- Advise and represent clients in proceedings for money laundering and fraud-related
- Provide advice and representation where an individual or corporate
client believes they have been the subject of a Suspicious Activity Report