The Proceeds of Crime Act 2002 introduced money laundering offences which criminalise the use of any property (including goods, money and shares) that has been obtained through criminal conduct. The Act created a disclosure regime, making it an offence not to disclose knowledge of suspicion of money laundering, but also specifies circumstances where persons can be given consent to carry out activities which would otherwise constitute money laundering.
Since the Act was introduced anti-money laundering compliance has increased and the burden of compliance extends beyond financial services. We are able to offer advice to accountants, estate agencies, law firms, financial advisers and professional individuals.
We can offer advice in the following areas:
- Anti-money laundering (AML) training, policies and procedures
- Customer due diligence
- Whether a Suspicious Activity Reports should be filed to the Serious Organised Crime Agency (including advising on the potential conflict with client confidentiality and legal privilege)
For more information on anti-money laundering compliance and how we can help you, please contact our Motoring, Crime and Regulatory Team on 01279 755777 or get in touch with Dan Hart, Solicitor Advocate in our Motoring, Crime and Regulatory Team.