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Trillions of pounds are committed to financial transactions in a daily living pattern. But, according to reports, money launderers aim to focus their attention on these transactions and shift or launder money obtained through fraud or other criminal activities. You can connect with our Money Laundering Solicitors in Hounslow for a deeper insight into the same concept.
You may have picked up on the concept of money laundering from the preceding lines; it is an illegal practice used by criminal and fraud organisations to transfer money from one account to another using the personal information of others.
This means that other people could be convicted of the crime or the money-laundering fraud while another group is to blame. Transactions or money transfers could also take place with foreign countries, where fraudsters or criminals could employ the procedures to stash their stolen funds in other countries. Money mule scams are another name for this type of activity, which compromised individuals or government officials frequently carry out.
Our Money Laundering Lawyers Hounslow will represent your case for faster resolution
The Proceeds of Crime Act of 2002 established several new offences, including purchasing, retaining, or transferring illegal property, engaging in money laundering schemes, and tipping off. The Act went into effect on February 24, 2003. However, the previous statute still applies to offences allegedly committed before that date.
Regulators and investigators have considerable information-gathering powers under the 2002 Act, including the ability to seize, detain, and confiscate illicit property and find out about assets, monitor bank account transactions, and demand the production of documents.
Our Money Laundering Lawyers Hounslow also help people whose property has been confiscated by regulators and parties who have been served with production orders for other people’s assets.
These investigations can include a lot of intrusion into a person’s financial, personal, and professional life and they can be emotionally and financially draining. They can even do harm to members of one’s own family. We also guide financial and banking professionals, as well as solicitors and accountants, on the substantial anti-money laundering compliance rules.
Call us to know more
Our Money Laundering Solicitors in Hounslow have extensive first-hand experience of implementing internal ALM policies and dealing with issues if they arise, in addition to advising on the Money Laundering regulations. Call us on 02039300780 for other details.