The following Risk & Compliance practice note provides comprehensive and up to date legal information covering:
There are several offences of tipping-off and prejudicing an investigation that apply to the regulated sector. There is also an offence of prejudicing an investigation that applies only to the unregulated sector. Both sectors are subject to an additional offence of interfering with documents.
This Practice Note discusses the offences of tipping-off and prejudicing an investigation under the Proceeds of Crime Act 2002 (POCA 2002). It reflects the requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692 which came into force on 26 June 2017.
For more information on what constitutes the regulated sector, see Practice Note: What is money laundering?
The principal money laundering offences are:
concealing criminal property
being concerned in an arrangement that facilitates money laundering
possessing criminal property
POCA 2002 imposes an obligation to report knowledge or suspicions of money laundering. This is done by way of a SAR.
You will have a defence to a principal money laundering offence if you make a SAR to the National Crime Agency (NCA) and you receive appropriate consent (or a defence) to do an act that would otherwise constitute such an offence.
POCA 2002 also imposes criminal sanctions for failing to make a SAR where you know or suspect that another person is engaging in money laundering.
For full details of your duty to
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When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
Who is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business partner and
What is quia timet relief?Injunctions are generally awarded where a party has already suffered a wrong. For guidance on injunctions generally, see Practice Note: Injunctions—guiding principles. However, an injunction may be sought before a party's rights have been infringed on the basis that they
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.Note: this Practice Note does not deal with the
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