What offences could you and your organisation commit?
What offences could you and your organisation commit?
Offences under the Proceeds of Crime Act (POCA)
It is important that you understand the key offences that you or your organisation could commit. POCA offences concern the handling of ‘criminal property’. This means that:
The property, i.e. cash or other assets, constitute or represent benefit from criminal conduct (in whole or part and whether directly or indirectly).
The alleged offender knows or suspects that this is the case.
Select the Start button below to review the main offences.
1. Concealing criminal property (s327 POCA)Section 327 concerns concealing, disguising, converting, transferring or removing criminal property.
If convicted, the offender is liable to imprisonment for 14 years or a fine or both.
An offence is not committed if a person makes an ‘authorised disclosure’ under section 338 to a constable, customs officer or money laundering reporting officer (MLRO), or if that person intended to disclose but had a reasonable excuse for not doing so.2. Arrangements (s328 POCA)A person commits an offence if they enter into or become concerned in an arrangement which they know or suspect facilitates (by whatever means) the acquisition, retention, use or control of criminal property by or on behalf of another person.
It carries the same sentence (and is subject to the same defence) as s327.3. Acquisition, use and possession of criminal property (s329 POCA)This offence can be applied where an offender acquires, uses or possesses criminal property even if they cannot be shown to be concealing, converting, etc, under s327.4. Failure to disclose: regulated sector (s330 POCA)Section 330 places a duty on employees in a relevant sector business to make reports where they know or suspect (or have reasonable grounds for knowing or suspecting) that another person is engaged in money laundering.
It can lead to imprisonment for up to five years and a fine or both.
It would be necessary to show that the information came to the employee in the course of their regulated business.