Money Laundering In London
One of the best Money Laundering lawyers in London
“A leading expert in HMRC investigations, fraud and complex financial crime”
“Great advice that saved my business and reputation”
Significant experience advising clients who are the subject of HMRC investigations and criminal prosecutions for tax-related offences, fraud and money laundering and other offences including:
- Serious and Organised Crime
- Bribery & Corruption
- Insider Dealing
- Corporate Manslaughter and Health & Safety Law
- Fraud and Financial Crime
- Corporate Crime
- Tax Investigations
- Cash Seizures, restraint Orders and Confiscation Proceedings
Former international judge who presided in many complex serious and organised crime cases including complex financial crimes, tax evasion, money laundering, fraud and asset confiscation cases.
If you are looking for a proactive approach with clear, strategic advice for the successful conclusion of your case, contact us for a free consultation.
Defendants charged with tax evasion and fraud are often charged with money laundering.
Money Laundering is the process by which the proceeds of a criminal offence are converted in order to give the appearance they are of legitimate origin.
Money laundering schemes can be very simple or highly sophisticated. Most sophisticated money laundering schemes involve three stages:
- Placement – the process by which dirty money into the financial system;
- Integration – the process by which dirty money is absorbed in the financial system through, for example, the purchase of property;
- Layering – the process of moving money in the financial system through complex webs of transactions, often via offshore companies;
The Proceeds of Crime Act 2002 came into force on 24 February 2003 and acts of money laundering begun on or after that date are offences under the new Act.
The new principal money laundering offences are now found in sections 327 (Concealing), 328 (Arrangements) and 329 (Acquisition, use and possession) of the Proceeds of Crime Act 2002.
Money laundering is defined as an act which constitutes an offence under S.327, 328 and 329 or a conspiracy or attempt to commit such an offence. Money laundering includes counselling, aiding or abetting or procuring.
Under the Proceeds of Crime Act, the Crown has to prove that the laundered proceeds are “criminal property”, as defined in S.340 of the Proceeds of Crime Act: that is to say that the property constitutes a person’s benefit from criminal conduct. ‘Criminal conduct’ is all conduct that constitutes an offence in any part of the United Kingdom.
Offences which were committed abroad are relevant predicate crimes if laundering acts are committed within our jurisdiction where the predicate offence committed abroad (from which proceeds were generated) would also constitute an offence in any part of the United Kingdom if it occurred here (S.340 (2) b).
It is immaterial whether the criminal conduct occurred prior to the Act becoming law so long as the laundering act takes place post commencement.
To prove that property is the proceeds of crime, the prosecutor must show the property:
- Constitutes benefit from criminal conduct or that it represents such a benefit (in whole or part and whether directly or indirectly) and;
- The alleged offender knows or suspects that it constitutes or represents such a benefit [section 340(3)].
The definition of criminal property makes no distinction between the proceeds of the defendant’s own crimes and of crimes committed by others. Therefore, laundering one’s own proceeds is just as much money laundering as laundering the proceeds of another’s crime.
Proving that proceeds are the benefit of ‘criminal conduct’ will usually be based on circumstantial evidence.
Prosecutors are not required to prove that the property in question is the benefit of a particular or a specific act of criminal conduct, as such an interpretation would restrict the operation of the legislation. The prosecution must adduce sufficient circumstantial evidence or other evidence from which inferences can be drawn to the required criminal standard that the property in question has a criminal origin.
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Malcolm Simmons, Top Criminal Lawyer, Criminal Defence Solicitor representing clients across the UK.
Highly regarded criminal defence solicitor and former international judge, specialising in complex economic crime. He has for many years defended clients