Money laundering redefined

Money Laundering Redefined

The Proceeds of Crime Act 2002 introduced a new law on money laundering in the UK, and in so doing, defined money laundering very widely as activities concerning the ‘proceeds of crime’.

This means that money laundering is not confined to ‘classic’ forms of placement, layering and integration.

Any criminal activity (i.e. one that could be prosecuted through the criminal rather than civil courts) that leads to ‘proceeds’ (broadly, financial benefit to the perpetrator or someone acting on their behalf) comes within scope of the law.

For example, tax evasion is a crime which generates proceeds.

Continue to lesson 2: What offences could I and my organisation commit under the legislation?