There are a number of common money laundering practices. The purpose is to move money obtained through illegal means or proceeds of crime through false transactions or complex movements so that it becomes difficult to trace. This can involve a range of tactics, such as creating shell companies, using offshore accounts, or using cash-based businesses to launder money.
Proceeds of crime refers to any money or assets that have been obtained through criminal activity. This can include drug trafficking, fraud, theft, or other criminal offences.
Money laundering is a criminal offence under the Proceeds of Crime Act 2002, and the penalties can range from fines to imprisonment. Proceeds of crime can also be seized by law enforcement agencies, and those found guilty of these offences can face lengthy prison sentences.
We can help…
If you or your business is under investigation for money laundering or proceeds of crime, it is essential to seek expert legal advice. We can provide guidance on your legal rights and obligations and work to build a robust defence.
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If you would like to speak to a member of our Business Crime Defence team please contact us on 0113 232 1030 or complete the following form:
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