Money Laundering Solicitors

Our team of experienced money laundering solicitors in London provide expert legal advice and representation to anyone accused of money laundering. Call us on 020 3417 3700 to discuss your legal position and the available options.

Money laundering is considered a serious crime in the UK, and it carries significant penalties for those who are convicted. Money laundering is a criminal offence that involves the process of concealing, disguising, transferring, or converting the proceeds of criminal activity to make them appear legitimate.

Money laundering cases require special experts and meticulous attention to detail. Failure to report various aspects of the case or suspected money laundering activities can have significant consequences, including imprisonment, hefty fines, and even reputational damage through the media.

The UK's anti-money laundering legislation is also quite complex and extensive due to the country's zero tolerance for illicit finances. Our experienced team of criminal defence lawyers at Wembley Solicitors has extensive knowledge of the legal system and can provide the best defence for your case.

1. What is a money laundering offence in the UK?
2. What activities are classified as money laundering?
3. What is the minimum sentence for money laundering?
4. How can money laundering solicitors help?

What is a money laundering offence in the UK?

Money laundering is a criminal offence whereby a person or business tries to change the source of an illegally obtained property or other assets to make it appear legitimate. It is usually done by introducing illegal assets into the business's financial system under the guise of legitimate assets.

Criminals use various forms of assets in money laundering cases such as land, buildings, money, or technological property.

It is important to note that businesses and individuals have legal obligations under the Money Laundering Regulations 2017 to prevent money laundering and terrorist financing. Failure to comply with these obligations can result in criminal or civil penalties.

What activities are classified as money laundering?

The following activities are classified as money laundering under POCA:

• Concealing criminal property: This offence involves concealing, disguising, converting, transferring, or removing criminal property from the UK or any part of it, with the intention of avoiding prosecution or punishment.
• Arranging or facilitating: This offence involves arranging, facilitating or acquiring criminal property, with the intention of using it for criminal purposes or knowing or suspecting that it will be used for criminal purposes.
• Acquisition, use or possession: This offence involves acquiring, using or possessing criminal property, with the knowledge or suspicion that it is the proceeds of criminal activity.
• Tax evasion: Money laundering can also involve concealing the proceeds of tax evasion or other financial crimes.
• Terrorist financing: Money laundering can also involve the use of funds to support terrorist activities or organizations.
• Corporate offences: Companies can also be guilty of money laundering if they fail to take appropriate measures to prevent money laundering by their employees or customers.

Criminals may use a range of techniques to launder money, including using front companies, shell companies, and offshore bank accounts. Therefore, it is important for individuals and businesses to be aware of the signs of money laundering and to have effective procedures in place to prevent and detect this type of criminal activity.

What is the minimum sentence for money laundering?

The minimum sentence for money laundering in the UK varies depending on the offence and the circumstances of the case. Money laundering is a serious offence and can carry significant penalties.

Under the Proceeds of Crime Act 2002 (POCA), the maximum penalty for money laundering is 14 years in prison and an unlimited fine. However, the actual sentence will depend on the severity of the offence, the amount of money involved, and other factors such as the defendant's criminal history.

In some cases, the courts may impose a custodial sentence for money laundering even for first-time offenders. The Sentencing Council provides guidelines to judges and magistrates on the appropriate sentences for different types of offences, including money laundering.

It is worth noting that penalties for businesses that fail to comply with the Money Laundering Regulations 2017 can also be significant. The penalties include fines, disciplinary action, and reputational damage. Therefore, it is important for businesses to take their anti-money laundering obligations seriously and have robust procedures in place to prevent and detect money laundering.

How can money laundering solicitors help?

Money laundering solicitors can assist individuals or businesses in a variety of ways, including:

• Advising on compliance: Money laundering solicitors can help businesses to understand and comply with anti-money laundering (AML) regulations, including the UK Money Laundering Regulations 2017. They can provide guidance on risk assessments, due diligence, record-keeping, and reporting obligations.
• Representing in investigations: Money laundering solicitors can represent individuals or businesses that are subject to investigations by law enforcement agencies, such as the National Crime Agency (NCA), the Serious Fraud Office (SFO), or the Financial Conduct Authority (FCA). They can help to prepare responses to information requests, challenge search warrants or production orders, and negotiate with investigators.
• Defending against charges: Money laundering solicitors can represent individuals or businesses that are charged with money laundering offences. They can provide legal advice on the evidence against the accused, prepare a defence strategy, and represent the accused in court.

Money laundering solicitors can help individuals or businesses navigate complex AML regulations, protect their interests in investigations or prosecutions, and improve their AML compliance.

Contact our criminal law solicitors in Wembley, London on 020 3417 3700 or fill in the enquiry form for immediate legal advice & assistance with your situation.