Legal Advice in Money Laundering Cases

Anti Money Laundering Risk Assessment

In today’s increasingly complex regulatory landscape, organisations face significant challenges in mitigating the risks associated with money laundering. I offer strategic guidance to help you navigate these complexities, focusing on:

• Conducting Compliant Anti-Money Laundering Risk Assessments: I provide expert assistance in identifying and evaluating your organisation’s unique vulnerabilities. This includes a thorough analysis of your operational processes, customer base, and geographic exposure to ensure your risk assessment aligns with current regulatory requirements.
• Implementing Robust Policies and Procedures: I work with you to develop and implement tailored anti-money laundering policies and procedures that are not only compliant but also effective in preventing and detecting illicit financial activity. This includes guidance on customer due diligence, transaction monitoring, and reporting suspicious activity.
• Staying Ahead of Evolving Regulations: Anti-money laundering regulations are constantly evolving. I provide ongoing support to ensure your organisation remains up-to-date and compliant with the latest requirements.

Money Laundering FAQs

What is Money Laundering?

Money laundering refers to the criminal process of changing the illegal source of funds to make it appear legitimate. It usually involves introducing illegally gained funds into the financial system under the guise of legitimate company assets. These assets, which can include money, land, buildings, technology, and intellectual property, may then be used as part of a lawful business operation the funds having been ‘cleaned’.

What are the money laundering offences?

In the UK, anti-money laundering is primarily regulated under the Proceeds of Crime Act (POCA) 2002 and the Money Laundering Regulations 2017.

There are three principal money laundering offences under POCA:

Concealing, disguising, converting, transferring or removing criminal property; entering into or being involved in an arrangement that facilitates the acquisition, retention, use or control of criminal property; the acquisition, use and possession of criminal property.

The alleged offender must know or suspect that the property constitutes or represents a direct or indirect benefit, in whole or part, from criminal conduct. However, an offence will not be committed if an authorised disclosure is made before money laundering occurs.

The National Crime Agency (NCA) is the primary authority responsible for gathering intelligence and investigating money laundering offenses. Conviction for such offenses can result in imprisonment for up to 14 years, a fine, or both. The Proceeds of Crime Act 2002 (POCA) further criminalizes the failure to disclose suspected money laundering activity through the Suspicious Activity Reports (SARs) system, specifically by failing to submit an SAR to the NCA’s UK Financial Intelligence Unit (UKFIU). It is also an offense to disclose to a customer or third party that their activities have been reported.

The offences relating to the failure to report suspected money laundering, as well as the three primary offences listed above, also apply to property that is likely to be used for the purposes of terrorism.

What are the Money Laundering Regulations 2017?

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26 June 2017, implementing the EU’s Fourth Money Laundering Directive and replacing the 2007 Regulations.

The 2017 Regulations signal a shift away from a prescriptive approach towards one requiring regulated businesses to consider and act on the specific risk factors they face.

On 10 January 2020, the UK’s anti-money laundering regime was updated to incorporate international standards.

Get legal help

To discuss your circumstances and for a quote for legal representation, please contact us on 020 7036 0200. Alternatively, you can use the contact form or WhatsApp link for urgent legal advice. To book an appointment for a discussion, you can also email Tanveer directly on tanveer@tqlegal.co.uk and he will get back to you as soon as possible.

“I was told by various other legal professionals to go guilty. Tanveer however worked day and night and found various technical points which he believed gave me a fair and good chance of getting a not guilty verdict.

He simplified my case to make it easy for me to understand clearly and fought hard for me at every turn, in the end delivering a much sought after not guilty verdict.

His sharp and concise execution in court was extremely impressive to watch and was described by a close friend who watched the whole case as absolutely faultless.

I had 4 different police officers and a medical professional all giving evidence against me. Tanveer managed to deliver a not guilty verdict without the need for me to even give evidence. For that I will always be grateful.

I would recommend Tanveer to any one out there. He is by a country mile the best
legal representation I have ever had.”

Book a discovery meeting with me now.

The quicker you deal with a money laundering matter, the greater your chances of resolving it quickly and confidentially. Do not wait a moment to contact me. Money laundering investigations can be complex and lengthy, so you must get legal advice immediately.

I have been involved in cases where the amount alleged to have been laundered is anything between £1,000 to hundreds of millions. There are few situations involving money laundering that I have not seen before. Therefore, I also provide advice to organisations on conducting compliant anti-money laundering risk assessments and implementing robust anti-money laundering policies and procedures.