Money laundering is the process that criminals use in order to clean dirty money. This means that any proceeds from criminal acts are typically passed through a legitimate business in order that the money comes out looking legitimate, and can be spent freely and easily. Individuals and businesses may be caught up in the money laundering process, and while some may become involved intentionally in order to profit from the process, it is possible to become embroiled in such a scheme without knowing it.
Changes to the law mean that the police and courts have greater powers to investigate, arrest, and prosecute anybody that is thought to have been involved in any stage of the money laundering process, and this type of case will often surface during a POCA case, when extensive investigation is carried out into a person’s finances.
The Proceeds Of Crime Act was introduced as a means of offering greater powers to deal with financial crime, and the profits that are made from criminal activities. These types of case will involve considerable digging into a person’s financial activities and records, and it is during this process that money laundering activities are most often uncovered. Following the paper trail enables investigators to be able to determine who was complicit in the laundering scheme, and this will often lead to additional investigations and trials.
Self-laundering cases are those that are brought against people that the CPS believes are guilty of laundering their own nefarious profits. However, laundering somebody else’s money, the covering up of money laundering, and even inaction against money laundering criminals are all considered offences by the courts, and you should ensure that you have an experienced legal representative to defend your case, regardless of which stage of the process you are accused of being involved in.
Money laundering is treated seriously, and if found guilty, it is possible that you will have money and assets frozen under POCA. This can mean serious financial problems for you and your family, and it is vital that your solicitors have experience in dealing with complex financial cases. Contact Ashcott Solicitors today if you are undergoing a POCA investigation, or if you are facing a money laundering case.
Money Laundering – Questions We’re Often Asked
What constitutes money laundering?
Money laundering is an offence defined in the POCA as “the process by which the proceeds of crime are converted into assets which appear to have a legitimate origin, so that they can be retained permanently or recycled into further criminal enterprises.”
Money laundering can be conducted through a wide variety of different practices, which all have in common a legitimate component. Generally, this might include a legitimate business which then inflates their income in some way, whether through false clients or other illicit accounting practices.
The money laundering process is broken down into a couple of separate legal categories. The first is those who commit criminal offences and then proceed to launder that money.
These prior criminal acts are called predicate offences. The second category consists of those whose only criminal activity is the laundering itself, disconnected to a degree from the crime by which the money was originally attained.
The link between these two categories can sometimes be vague; it’s often the case that someone may be accused of money laundering as an individual in the second group, whereas in reality their involvement was unintentional, having been lied to by the first group who committed the predicate offences.
Classifications of money laundering
Mixed cases
Mixed cases are cases where money laundering is a charge that can be included with an indictment of the predicate charge, in direct connection to the criminal act which involved the original attainment of the laundered proceeds. This can either be classified as self-laundering, where the laundering defendant is also the perpetrator of the predicate crime, or laundering where the launderer is someone other than the author, but in some way or ways connected.
Soley money laundering
It is also possible that money laundering might be the sole charge that can be brought forward with adequate proof for conviction, or is at least the most appropriate charge available. This will be a more straightforward case, but with potentially similar levels of legal nuance involved. Having the right legal team in either situation is imperative.
What should you do if you’ve been charged with money laundering?
Money laundering is an incredibly sensitive legal area, and as such it necessitates a sensitive legal approach. It’s important that you’re able to prove that you conducted a suitable level of due diligence in all aspects of your business.
This base level of due diligence doesn’t need to be exceeded, but it at least needs to be met; if you’re solely facing money laundering charges, this due diligence will be the main defence upon which your case depends.
Ashcott Money Laundering Solicitors – Contact Our Team
If you’ve been charged with money laundering, with or without predicate charges, and require urgent legal advice, call us now on 0161 234 0020 (Manchester) /0203 053 8625 (London) / 07956 555979 (24 hour).
You can also contact us via our contact form and we will respond to you as soon as possible.