money laundering

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  1. Criminal property?
    • S.340 of the Proceeds of Crime Act: that is to say that the property constitutes a person's benefit from criminal conduct
    • To prove that property is "criminal property" (i.e. the proceeds of crime) the prosecutor must show the property:Constitutes benefit from criminal conduct or that it represents such a benefit (in whole or part and whether directly or indirectly) and;The alleged offender knows or suspects that it constitutes or represents such a benefit [section 340(3)].The property which may comprise the benefit from criminal conduct is widely defined (see S.340 [9] and [10]) to include:Money;All forms of property or real estate;Things in action and other intangible or incorporeal property.Property is obtained by a person if he obtains an interest in it.Because of the definition of criminal property, there is no distinction between the proceeds of the defendant's own crimes and of crimes committed by others (see S.340 [4]). Thus laundering one's own proceeds is just as much money laundering, as similar activities performed by someone else, notably professional launderers on behalf of the authors of the predicate or underlying offences.Own proceeds laundering applies to all 3 principal money laundering offe
  2. Criminal conduct?
    Criminal conduct" is all conduct which constitutes an offence in any part of the United Kingdom (which means that an "all crimes" approach is adopted in respect of predicate crimes committed in the UK).Offences which were committed abroad are relevant predicate crimes if laundering acts are committed within our jurisdiction where the predicate offence committed abroad (from which proceeds were generated) would also constitute an offence in any part of the United Kingdom if it occurred here (S.340 (2) b) (Archbold 2006 33-29).It is immaterial whether the criminal conduct occurred prior to the Act becoming law so long as the laundering act takes place post commencement.
  3. s327?
    that the defendant knew or suspected that the property represented a benefit from criminal conduct

    concealing criminal property;disguising criminal property;converting criminal property;transferring criminal property;removing criminal property from England and Wales
  4. s328
    the defendant enters into or becomes concerned in an arrangement;which he knows or suspects facilitates (by whatever means) the acquisition, retention, use or control;of criminal property;by or on behalf of another person
  5. s329
    Section 329 appears at (Archbold 2006 33-13). This offence can be committed if a defendant:uses criminal property;or (passively) possesses criminal property.Similarly, it is an either way offence attracting the same maximum penalties as offences under sections 327 and 328.It does not attract the lifestyle assumptions on conviction.The prosecution has to prove:acquisition use or possession;of property;which was the benefit of criminal conduct;and that the defendant had the necessary knowledge or suspicion that the property represented a benefit from criminal conduct.Possession means having physical custody of criminal property.
  6. stages of money laundering?
    Placement - the process of getting criminal money into the financial system;Layering - the process of moving money in the financial system through complex webs of transactions, often via offshore companies;Integration - the process by which criminal money ultimately becomes absorbed into the economy, such as through investment in real estate.Prosecutions for money laundering can involve any of these stages in the money laundering process.
  7. part two?
  8. part 7
    money laundering offences
  9. part 8
    investigation powers
  10. section for production order
  11. year for POCA
Card Set:
money laundering
2014-01-29 18:26:45
money laundering

principal money laundering POCA
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