Money laundering offences are very serious. The Proceeds of Crime Act 2002, Part 7, legislates the law regarding money laundering and its consequences. It explains that money laundering can be simple or sophisticated. The following are the types of sophisticated money laundering:
- Placement – This is the act of getting the criminal money into the financial system;
- Layering – This is the act of moving the funds into the financial system through offshore companies or other complex webs of transactions; and
- Integration – This is the act of absorbing the criminal money into the economy through legitimate transactions such as investment in real estate.
This legislation explains that there may be charges of up to 14 years imprisonment in addition to confiscation and civil recovery.
If you have been accused of any involvement of money laundering, you will need to get in contact with our money laundering solicitors as soon as possible. At Bloomsbury Law, we have successfully represented clients who have been called as both witnesses and suspects of money laundering. We understand that this may be a very distressing time and we are here to help. If you are seeking legal advice, please get in contact with one of our specialists. We will listen to you call, answer any enquiries that you may have and advise you accordingly once we are instructed.
What do I do next?
Contact us online or speak to one of our dedicated specialists on 0207 998 7777 for a free initial consultation. With our vast experience in the field, our bilingual speaking team will work with you to ensure this process runs as smooth as possible. All information you provide us with is treated with the utmost confidentiality.
We will contact you no later than the next working day to arrange a meeting at our offices in London W1 to advise on the agreement.