Money Laundering Prosecution | Kangs Criminal Defence Solicitors
Kangs Solicitors are instructed on behalf of a client who is being prosecuted for an offence of money laundering.
Frances Murray of Kangs Solicitors provides an update on this high value money laundering case which is being prosecuted at Isleworth Crown Court following a Metropolitan Police Investigation.
The History | Kangs Solicitors for Criminal Proceedings
The Police intercepted a transaction involving a large amount of cash that is alleged to be the proceeds of crime.
It is suspected that the Police may have been undertaking a longstanding surveillance operation and it is alleged that our client was caught up in a criminal enterprise about which he had no knowledge.
The preparation of our client’s detailed defence continues.
What is Money Laundering ? | Kangs Financial Fraud Advisors
Money laundering is the process whereby attempts are made to make the proceeds of illicit activity appear “clean”.
Money laundering schemes can be simple or highly sophisticated.
The majority of complex money laundering schemes involve three stages:
- “Placement” - the process of getting criminal money into the financial system;
- “Layering” - the process of moving money within the financial system through complex webs of transactions;
- “Integration” - the process by which criminal money ultimately becomes absorbed into the economy, such as through investment in real estate.
Prosecutions for money laundering can involve any of these stages in the money laundering process.
What does the Prosecution have to prove to show that Money Laundering has taken place?
The Proceeds of Crime Act 2002 distinguishes three separate types of money laundering offences:
Section 327 offence – “Concealing criminal property”:
This includes concealing, disguising, converting or transferring criminal property.
It also includes removing criminal property from the UK.
A person convicted of an offence under this section is liable to imprisonment of up to 14 years.
The test for whether someone is guilty of such an offence is whether they “knew or suspected” that the criminal property represents a benefit from criminal conduct.
It is necessary for the prosecution to prove:
- the act of concealing, disguising, converting or transferring;
- in relation to property;
- which was a benefit from criminal conduct; and
- that the accused knew or suspected that the property represented a benefit from criminal conduct
Section 328 offence – “Arrangements”:
This is the option most commonly adopted for the prosecution of those who launder on behalf of others.
It can apply to individuals who work as bookkeepers, accountants or those in financial institutions who in the course of their employment facilitate money laundering on behalf of others.
The prosecution must prove that:
- the defendant enters into or becomes concerned in an arrangement;
- which he knows or suspects facilitates (by whatever means) the acquisition, retention, use or control;
- of criminal property;
- by or on behalf of another person.
Section 329 offence - Acquisition, use and possession:
This offence is committed if a defendant uses criminal property, or (passively) possesses criminal property.
The prosecution has to prove:
- acquisition use or possession;
- of property;
- which was the benefit of criminal conduct;
- and that the defendant had the necessary knowledge or suspicion that the property represented a benefit from criminal conduct.
How Can Kangs Team Assist You? | Money Laundering and Fraud Defence Solicitors
It is imperative to seek advice at an early stage of a criminal investigation. Decisions made at the investigation stage of a case often have a huge impact on matters that proceed to Court.
At Kangs we have a wealth of experience in dealing with complex allegations of high value financial crime of all description.
Cases of this nature require a legal team with specialist knowledge and extensive experience.
Kangs Solicitors’ complex crime and regulatory team provides a national service.
We have extensive experience of dealing with cases investigated and prosecuted by all the major prosecuting authorities such as the SFO, FCA, HMRC, CPS, Trading Standards, Environment Agency etc.
Who Can I Contact For Help? | Kangs Solicitors
If you are a business, whether a sole trader, partnership or company, we are here to assist you manage your contact with the prosecuting authority and advise you on any criminal proceedings involving any financial crime.
Our team of solicitors has a proven track record of assisting many individuals and businesses achieve the right result in defence of these criminal proceedings.
Our expert team of Solicitors can be contacted through the following:
Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258171 | 020 7936 6396 | 0121 449 9888
John Veale
jveale@kangssolicitors.co.uk
07779 055907 | 0121 449 9888 | 020 7936 6396
