The Crown Prosecution Service (CPS) has updated its money laundering guidance on prosecuting standalone ‘failure to disclose’ cases under the Proceeds of Crime Act 2002 (POCA).

Section 330 of POCA obliges regulated professionals to report suspicions of money laundering in certain circumstances. From 2 June 2021, it will be possible to prosecute a section 330 offence regardless of whether a money laundering offence has been substantiated.

The guidance states: “It is possible to charge an individual under section 330 even though there is insufficient evidence to establish that money laundering was planned or has taken place.<...

To continue reading

This article is part of our subscription-based access. Please pick one of the options below to continue.

Already registered? Login to access premium content

Not registered? Subscribe