Key Information - Money Laundering Regulations

Money laundering is an act falling within section 340 (11) of the Proceeds of Crime Act 2002.

Money laundering is now interpreted in a much wider sense and includes possessing, or in any way dealing with, or concealing, the proceeds of any crime. This includes concealing the proceeds of any tax evasion.

Organised Money Laundering

This is essentially the typical view of money laundering and involves organised crime and providing a legitimate cover for criminal funds. The aim is for the "black" money to get into the financial mainstream and therefore appear clean. There are many different methods for doing this, ranging from the purchase of property or luxury goods to the creation of shell companies.

Smaller scale Money Laundering

The act itself broadens the definition of money laundering to the extent that an offence may have been committed even if the concealment of "black" money is on a much smaller scale.

For example any type of property crime or deliberate tax evasion is likely to involve money laundering.

If you have any questions or concerns regarding money laundering then please contact Admiral Tax Investigations immediately.

A specialist tax investigation consultant is on hand to take your call 24 hours, 7 days.

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