Money Laundering Solicitors
Money Laundering Investigations and Prosecutions
- company directors, senior managers and businesses facing allegations,
- professionals working in regulated sectors, such as accountants, solicitors, tax advisers and estate agents,
- businesses and organisations subject to money laundering investigations,
- individuals and businesses subject to account freezing orders, restraint orders or confiscation orders, and
- individuals and organisations facing dawn raids and being interviewed under caution.
Who Can Be Investigated for Money Laundering?
Not everyone who becomes the subject of a money laundering investigation will have knowingly or intentionally participated in criminal activity. The scope of the law designed to prevent money laundering is broad, and includes the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 and the Proceeds of Crime Act 2002. As a result, individuals and businesses may not be aware that particular conduct or transactions could give rise to a money laundering allegation.
We regularly advise and represent clients who have become involved in situations that, sometimes inadvertently, have resulted in criminal investigation or allegations of money laundering.
Money Laundering and the Proceeds of Crime Act 2002
The Proceeds of Crime Act 2002 (POCA) creates a number of offences concerning criminal property, including concealing or disguising criminal property, becoming concerned in arrangements relating to criminal property, or acquiring, using or possessing criminal property.
Depending on the circumstances, an investigation may concern what a person knew or suspected about the criminal property, the role they are alleged to have played in a particular transaction or arrangement, or whether they should have taken steps to identify or prevent potential money laundering.
Whether an offence has been committed will depend on various factors, including the alleged suspicion or knowledge of the individual and their conduct.
Account Freezing, Restraint and Confiscation Proceedings
Money laundering investigations can lead to a range of POCA proceedings, which may affect individuals and businesses and their assets.
An Account Freezing Order (AFO) can prevent an individual or business from accessing money in an account where there are reasonable grounds to suspect that it represents the proceeds of crime or is intended for use in unlawful conduct.
Restraint Orders under POCA can prevent an individual or business from dealing with or disposing of specified assets while criminal or confiscation proceedings are ongoing. They are used to preserve assets that may later be the subject of a confiscation order.
Confiscation proceedings under POCA may affect individuals alleged to have benefited from criminal conduct. The Crown Court can decide whether a benefit has been obtained and, if so, make an order requiring payment of money or the confiscation of assets.
Cash seizure powers under POCA allow enforcement agencies to seize cash and, where appropriate, seek its continued detention or forfeiture where there are reasonable grounds to suspect that it is recoverable property or intended for use in unlawful conduct.
How We Can Help With Money Laundering Investigations
Our specialist money laundering solicitors have a wealth of experience advising individuals and businesses facing money laundering investigations, account freezing orders, restraint orders and confiscation proceedings. We provide clear, strategic advice designed to protect your funds, assets and reputation.
Our team can:
- challenge account freezing orders, restraint orders and confiscation proceedings,
- advise in relation to HMRC, SFO, NCA, FCA and Police investigations,
- advise in relation to disclosures made to the NCA,
- assist in preparing evidence demonstrating the legitimate provenance of funds, and
- represent clients in proceedings before the court.
Whether your bank account has been frozen, your assets are under investigation, or you are facing allegations concerning funds linked to the proceeds of crime, our experienced money laundering solicitors can provide robust representation and work to secure the best possible outcome.
For further information regarding allegations of money laundering, please see our Frequently Asked Questions.
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Money Laundering FAQs
Why Choose KANGS?
With more than twenty-five years of experience defending serious criminal fraud allegations, KANGS has established a strong reputation for providing expert legal advice and strategic representation in financial investigations.
If you have been contacted by the HM Revenue & Customs (HMRC), Serious Fraud Office (SFO), National Crime Agency (NCA), Financial Conduct Authority (FCA) or Police, the team at KANGS will make arrangements for the voluntary interview, seek pre-interview disclosure and prepare a strategy for how to approach the interview.
Our team offers:
- Extensive experience defending those under investigation for money laundering,
- Top-tier rankings in Chambers UK and The Legal 500.
- 24-hour police station representation nationwide.
- Expertise across POCA, fraud and financial crime investigations.
- Strategic advice tailored to the facts of your individual case.
- Confidential, professional and discreet representation.
Contact KANGS
The expert financial crime lawyers at KANGS are available to assist you. We can arrange initial consultations in person, by video call or telephone.
Please contact one of our experts listed below or contact us at:
What is Money Laundering?
Money laundering involves the handling of money or assets derived from criminal activity, with the intention to conceal, disguise, convert or transfer money and other assets obtained through criminal conduct. The objective is to obscure the true origin of those funds or assets before introducing them into the legitimate financial system in a manner that appears lawful.
Commonly described as the ‘cleaning of dirty money’, money laundering allows the proceeds of crime to be integrated into the legitimate economy while masking their true origin.
Penalties for Money Laundering?
The consequences of a money laundering conviction can be severe. Under sections 327, 328 and 329 of the Proceeds of Crime Act 2002, the maximum penalty available to the court is fourteen years’ imprisonment, a fine, or both.
Sentencing will depend upon the specific circumstances of the case. The court will assess factors such as if the defendant had a leading role in the offending, complexity of the activity, the amount of money or value of assets involved, the duration of the conduct, and any aggravating factors. These can include previous offending, efforts to conceal criminal activity or evidence, and any demonstrable impact on the public or wider community.
Could I be prosecuted for failing to report someone I know is involved in money laundering?
In certain specified circumstances this can be an offence for professionals working in the regulated sector. The regulated sector includes accountants, lawyers, estate agents and other financial professionals such as tax advisers.
Under section 330 of the Proceeds of Crime Act 2002, a person commits an offence if he:
- knows or suspects, or
- has reasonable grounds for knowing or suspecting
that another person is engaged in money laundering.
In summary, if a person learned something through their work in a regulated business that either led them to know, suspect or have reasonable grounds to suspect money laundering, they are required to disclose it to a nominated officer in their organisation who is usually the Money Laundering Reporting Officer (MLRO).
If there is a failure to make such a report, there may be certain defences available such as the defence of ‘reasonable excuse’.
If you are under investigation for not disclosing suspicions or knowledge of money laundering in a regulated sector, our solicitors can advise you and help protect your position.
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