Money Laundering 3 / 8

Giving appearance that Criminal proceeds come from legal source

How to do it!

  1. Placement – Put the proceeds into a legal business activity

  2. Layering – Transfer the money from place to place, concealing its criminal origins

  3. Integration – Buying legitimate assets etc

Categories Of Offence

  1. Laundering – being the offences of concealing, disguising, converting, transferring, or removing criminal property from the UK

  2. Failure to report – if you suspect someone is money laundering and don't report it - you've committed an offence (if working in a regulated industry, ie accountants)

  3. Tipping off – warning someone that they are being investigated for money laundering

Penalties

  1. Laundering –Max 14 years prison, and/or a fine.

  2. Failure to report – Max five years prison, and/or a fine

  3. Tipping off – Max two years prison, and/or a fine

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