Money Laundering

Our Money Laundering Solicitors have a deep-seated knowledge of money laundering offences and how to secure positive outcomes if your organisation is made subject to an investigation.

We implement robust strategies that will protect your interests and reputation and ensure any disruption to your business is minimised.

Our team can work in the most complex and challenging environments, ensuring you and other relevant stakeholders understand the Regulator’s motivations and methods when investigating and prosecuting money laundering offences. We can also assist you with navigating the regulatory landscape and develop robust policies and procedures to facilitate ongoing anti-money laundering compliance throughout your organisation

Based in our offices in Coventry city centre, we are a diverse, multi-lingual law firm that uses best-in-class technology to provide clients with a streamlined, modern, and highly effective criminal defence. Furthermore, years of experience in criminal law means we have created relationships with some of the UK’s best Barristers and King’s Counsel. Our clients also benefit from our ability to instruct the country’s most respected expert witnesses who can provide the Court with the facts required to support a not guilty plea or mitigate the sentence handed down by the Judge.

Advising and representing people accused of committing a criminal offence

We are highly recommended as an expert criminal defence law firm for people accused of committing a crime. Therefore, will be at your side, protecting your interests from the start. Because we understand the correct procedure regulators must follow when investigating or prosecuting an offence, we will carefully consider every step they take and challenge any laxity in compliance.

Our criminal law team has in-depth experience in defending serious criminal charges such as money laundering offences. Our criminal law team solicitors work with the country’s top expert witnesses and focus on providing you with advice and representation you can trust. We know that your reputation, financial security, and possibly your freedom is at stake – therefore, we never give up until every appeal has been exhausted.

Below are several common questions clients ask us concerning money laundering offences.

What is money laundering?

Money laundering is defined as the “process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source”.

There are three phases involved in money laundering:

Placement – moving the ‘dirty’ money into the financial system. Banks tend to have extremely high anti-money laundering processes in place; therefore, criminals use other professional bodies such as Solicitors and Accountants to place the money into the mainstream markets.
Layering – the money is subjected to complex financial transactions using trusts and offshore entities to conceal its criminal roots.
Integration – once the money is cleaned’ through the layering process, legitimate assets such as property, shares, art, cars, and antiques are purchased. The funds are now enmeshed in the legitimate financial system and its origins are virtually impossible to trace.

Financial institutions and professional bodies are extremely vulnerable to being used by criminals to ‘clean’ money. If you are being investigated for money laundering offences, it is crucial that you contact our Money Laundering Solicitors immediately.

What are the offences of money laundering?

Anyone working in a regulated industry needs to be aware that dishonesty is not required to commit an offence under UK money laundering law. Under the Proceeds of Crimes Act 2002 there are three separate money laundering offences:

Concealing – it is an offence to conceal, disguise, convert, transfer, or remove criminal property (including money).
Arranging – this offence involves entering an agreement which you know or suspect enables the acquisition, retention, use or control of criminal property by or on behalf of someone else. The penalty for arranging is the same as that for concealment.
Acquisition, use or possession –if you know or suspect the property being acquired, used, or possessed is criminal property you are committing a criminal offence.

If convicted of any of the above offences, you could face 14 years imprisonment following conviction on indictment or a fine or both and six months imprisonment or a fine or both if convicted on a summary offence.

What is covered by the Money Laundering Regulations 2007?

The Money Laundering Regulations 2007 states that ‘relevant persons’ must create certain processes to facilitate the identification and reporting of suspected money laundering and terrorist financing offences to specified regulatory authorities. ‘Relevant persons’ are defined as financial institutions, legal and accountancy professionals, and other identified regulated sectors dealing with financial transactions.

Failure to comply with the obligation to provide suitable processes is an offence. For example, a Solicitor or an Accountant that does not undertake correct due diligence checks onboarding a new client may be committing an offence. Failure to hold proper records to demonstrate compliance is also a crime.

Why choose us?

Regardless of the charges against you, you are entitled to a criminal defence. We do not judge our clients; our only objective is to defend you against the Prosecution’s allegations. You can be confident that by instructing us to defend you, your chances of acquittal or a reduced sentence are greatly improved. The most important factor is to contact us as soon as you become aware of a regulatory investigation and/or criminal allegations.

People choose and recommend us not just in Coventry, Nuneaton, Rugby and Leamington, but across Warwickshire, the Midlands and the whole of the UK., because we get results.

To receive expert advice and representation regarding anti-money laundering offences, please contact us using the form below, call us on Coventry (02476) 231000, email enquiries@askewslegal.co. or visit us at our city centre offices in Coventry.