The following Practice Compliance practice note provides comprehensive and up to date legal information covering:
Staff must report their concerns to your nominated officer, who is then under a legal obligation under the Proceeds of Crime Act 2002 (POCA 2002) and Terrorism Act 2000 to report any knowledge or suspicion of money laundering or terrorist financing to the National Crime Agency (NCA) through a suspicious activity report (SAR).
The NCA allocates those SARs to trained financial investigation officers for further investigation. Intelligence from SARs may then be disseminated by the NCA to other law enforcement or government agencies which may need further information.
Where additional information is required following a SAR, it will generally be obtained through enforcement action (usually a production order) under POCA 2002. These are set out in Practice Note: Financial crime investigations.
While you must comply with any court order, you are also required to keep your client's information confidential. See further Practice Note: SARs and confidentiality.
No single UK body has overall responsibility for combating financial crime. This Practice Note sets out the various bodies with responsibility for financial crime prevention.
If you are the subject of a financial crime investigation you should seek legal advice from a specialist criminal law solicitor.
For further information on the financial crime investigation process see Practice Note: Financial crime investigations.
For information on handling and responding to financial crime investigations see Practice Note: Handling financial crime investigations.
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Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
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For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
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