Money laundering takes many forms but they all relate to the concealment of the origin of the money in an attempt to make it untraceable. It can be an individual’s own money or assets or handling someone else’s funds, which is most commonly a business that they are associated with and relates to money made from illegal activity.
These days there are numerous obligations for businesses and individuals alike to report suspect transactions that may involve money laundering. A prosecutor can bring charges against family and friends too if they believe they should have known that income was derived from illegal activities.
What classes as money laundering?
Placement – putting illegal money into the financial system
Integration – disguising money through a series of transactions
Layering – transferring money through lots of transactions making it difficult to trace
If you have been accused of money laundering, it is essential to speak to a specialist solicitor as soon as possible in order for you to build a successful defence, put your case forward in the best way and potentially reduce penalties and areas open to prosecution.
Money laundering offences can carry sentences of up to 14 years imprisonment. Our specialist team of money laundering lawyers are available to help you.
Our initial advice is free. Speak to us over the phone, via e-mail or in person if you prefer. You can either fill out our contact us form or call us on 01204 377600.