Financial crime investigations—who are the enforcers?
Financial crime investigations—who are the enforcers?

The following Practice Compliance practice note provides comprehensive and up to date legal information covering:

  • Financial crime investigations—who are the enforcers?
  • Who has responsibility for financial crime prevention?
  • UK Government
  • Home Office
  • HM Treasury
  • Law enforcement, other investigating bodies and prosecutors
  • NCA
  • Police
  • HMRC
  • Revenue and Customs Prosecutions Office
  • More...

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.

Who has responsibility for financial crime prevention?

No one

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