Proceeds of Crime / confiscation
The Proceeds of Crime Act, 2002 (POCA) means that the Prosecution can ask the Court to make an Order against you after conviction.
In confiscation proceedings, the Court has wide powers to confiscate assets and make, “assumptions”, as to how certain assets have been obtained. The Court will look at the value of the assets and then make an Order in the sum of the benefit of the criminal conduct or the sum of the available amount, whichever figure is the lower. If the amount remains unpaid, then a term of imprisonment can be imposed for the non-payment.
POCA also introduced criminal offences relating to money laundering.
Money laundering is where money which is the proceed of a crime, e.g. drug trafficking, fraud, is then, “uncleaned”, i.e. it is hiding the fact that the money or asset came from committing a crime. The money laundering offences are in Section 327, 328 and 329 of the Proceeds of Crime Act, i.e. to acquire, use or possess criminal property.
It is also an offence to assist an offender to disguise the origins of their cash. It is an offence to conceal, disguise, convert, transfer and remove criminal property from England and Wales or be concerned in any arrangement that facilitates money laundering.
If you or your business is accused of money laundering, we can advise and represent you. These types of cases often involve long investigations by the Police. This is a specialist area and we have the expertise to look at every detail in order to defend you.