Commentary

A7.102 Money laundering offences

Administration and compliance

A7.102 Money laundering offences

The Proceeds of Crime Act 2002

A7.102 Money laundering offences

Under POCA 2002, there are three main money laundering offences (prescribed in sections 327, 328 and 329). For the purposes of the legislation, 'money laundering' is defined as an act which either:

  1.  

    (a)     constitutes an offence under section 327, 328 or 329 of the Act

  2.  

    (b)     constitutes an attempt, conspiracy or incitement to commit an offence within (a)

  3.  

    (c)     constitutes aiding, abetting, counselling or procuring the commission of an offence within (a), or

  4.  

    (d)     would constitute an offence specified in (a) to (c) had it taken place in the UK1

For acts which are not offences for the purposes of ss 327–329, see A7.103. For the penalties relative to the offences, see A7.110.

There are similar offences under the Terrorism Act 2000 concerning property that is intended to be used for the purposes of terrorism.

Offence under section 327

Under POCA 2002, s 327, it is a criminal offence to conceal, disguise, convert or transfer criminal property or to remove criminal property from England and Wales or from Scotland or from Northern Ireland2.

For this purpose, concealing or disguising criminal property includes concealing or disguising its nature, source, location, disposition, movement or ownership of any rights with respect to it3.

For the meaning of 'criminal property' and 'criminal conduct', and other rules

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