Ian Ryan heads the team and he is the co-author of www.antimoneylaundering.lawyer, a regularly updated blog that sheds light on money laundering and related issues.
The law in respect of money laundering can be complicated. Companies and individuals can become unknowingly embroiled in money laundering and the penalties for breaking the law can be severe. Furthermore, the reputation damage from the fall out can be catastrophic to companies and individuals concerned. Our team is experienced in advising companies and individuals in both criminal and civil money laundering investigations.
The team provides comprehensive advice regarding anti-money laundering procedures and policies. In the UK the main provisions governing money laundering are contained within the Proceeds of Crime Act 2002 (POCA) and the The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
The Proceeds of Crime Act contains numerous criminal offences which apply to both individuals and companies. There is a renewed appetite within the UK prosecuting authorities to investigate matters involving allegations of money laundering. They are also relying on other provisions of POCA to try to recoup proceeds of crime through civil and criminal sanctions.
Our team is experienced in representing individuals subject to money laundering criminal investigations, as well as advising those subject to cash seizure and confiscation hearings. Our civil team has a vast amount of experience in advising individuals and corporates in disputes that arise when POCA is engaged. This includes applications for interim relief.
We also provide advice and assistance on procedures to minimalise the risk of being concerning in money laundering offences contained within the Proceeds of Crime Act.
The Money Laundering Regulations apply to a number of business sectors including financial institutions, independent legal professionals, accountants, estate agents, casinos and high-value dealers. All businesses covered by the regulations must comply with the Regulations and failure to do so could amount to a criminal offence.
The team advises several companies including solicitors and financial institutions on the anti-money laundering compliance rules contained within the Money Laundering Regulations. We are frequently retained by companies to provide ongoing advice in complex high-risk transactions.