Proceeds of Crime

Insights from our expert proceeds of crime solicitors.

19 July 2021

Met Police appetite for Account Freezing Orders undimmed by pandemic

Account Freezing Orders (AFrOs) are a measure introduced by the Criminal Finances Act 2017 and have been available to a wide range of law enforcement agencies since February 2018.

Ed Smyth

15 July 2021

The FCA proposes new listing guidance for cannabis-related businesses – a positive step for investors concerned about the Proceeds of Crime Act

In September 2020 the FCA published a statement regarding the listing of cannabis-related businesses (CRBs) in the UK. Since then several CRBs have been admitted to the London Stock Exchange (LSE) and appetite for investments in the medicinal cannabis industry continues to grow.

Nicola Finnerty

10 June 2021

Will the CPS’ decision to update its guidance mean an increase in prosecutions for failure to disclose under section 330 of POCA 2002?

Recent guidance issued by the CPS on the offence of ‘failure to disclose’ under section 330 of the Proceeds of Crime Act 2002 (‘POCA 2002’) states that it is now “possible to charge an individual under section 330 even though there is insufficient evidence to establish that money laundering was planned or has taken place.”

To date, there have seldom been prosecutions for this offence but this guidance – effectively removing a significant element of the offence - suggests that the CPS may be looking to bring more charges in the future.

Leena Lakhani

4 March 2021

The risks and penalties of money laundering for charities and how to guard against it

Money launderers will look for any opportunity to take advantage of organisations with weak financial controls in order to launder their ill-gotten gains. Charities, trustees, employees and volunteers who knowingly or unwittingly assist money launderers, or who fail to report suspicions, may commit a criminal offence and find themselves liable to prosecution. 

Nicola Finnerty

11 January 2021

HMRC’s record fine for money laundering breaches

HMRC monitors over 30,000 businesses to ensure their compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the regulations). Businesses which are found to have breached their regulatory obligations are at risk of civil and even criminal penalties.

Nicola Finnerty

Choose a specialist area:

Proceeds of Crime and Money Laundering

Recent years have seen considerable growth in this practice area, following the introduction of new measures designed to tackle illicit finance and the increased attention of enforcement agencies.

Account Freezing and Forfeiture Orders, and Cash Seizure

Tackling illicit finance and the proceeds of crime is a government priority and law enforcement focus.

AML Compliance

Ensuring that the UK financial system is an increasingly hostile environment for illicit finances is a key government priority.

Restraint Orders, Confiscation and Third Party Rights

We advise individuals and corporates in relation to restraint orders and third party applications in respect of property caught by restraint orders.

Unexplained Wealth Orders

UWOs are used by law enforcement agencies to require an individual to prove that a particular asset was obtained through legitimate means.

Extending Moratorium Periods

Another feature of the Proceeds of Crime Act that can have the unwelcome effect of freezing property is the 'moratorium period'

Money Laundering

The UK’s anti-money laundering (AML) regime is amongst the most stringent. We represent both individuals and organisations in AML matters.

Serious Fraud

Defending complex white collar cases successfully is what we are known for. The firm has the largest team of specialist criminal lawyers in the UK.

Investigations

When an individual or company is faced with a criminal or regulatory investigation we manage every step of the process.

Medical Cannabis: Licensing and Investment

We advise corporates and individuals on all aspects of investing and licensing in cannabis industry.

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