Commentary

A7.103 Money laundering offences—defences available

Administration and compliance

A7.103 Money laundering offences—defences available

A7.103 Money laundering offences—defences      available

A person does not commit an offence under POCA      2002, s 329 (see A7.102) if he acquired, used or had      possession of the property for adequate consideration1. This is defined only negatively,      namely:

  1.  

    (a)     a person acquires property for inadequate consideration (so that      the exception does not apply) if the value of the consideration is      significantly less than the value of the property

  2.  

    (b)     a person uses or has possession of property for inadequate      consideration if the value of the consideration is significantly less      than the value of the property, and

  3.  

    (c)     the provision by a person of goods or services which he knows or      suspects may help another to carry out criminal conduct is not      consideration (and thus not protected by the exemption)2

Heads (a) and (b) above protect a person such as a tradesman who is paid      for ordinary consumable goods and services in money that comes from a crime from      having to question the source of the money. They do not protect someone who      receives a gift of criminal property or who buys such property cheaply from the      proverbial 'man in the pub' knowing or suspecting something is      amiss.

A person is not guilty of an offence under any of the three sections if      either:

  1.  

    (1)     he makes an authorised disclosure under section 338 (see below)      (and, if the disclosure is made before he carries out the

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