Tracing and confiscating the proceeds of crime

Abstract

Discusses the prosecution of solicitor Jonathan Duff for failing to disclose his suspicions of money laundering by two clients; he was sentenced to six months imprisonment. Outlines the police’s statutory powers to obtain production orders for investigating the proceeds of crime, including search warrants and special procedure material, plus the following of assets by financial investigations. Describes the three stages of money laundering: placement, layering and integration. Indicates the development of money laundering legislation in England and Wales, including provision prior to the 2002 Proceeds of Crime Act (PCA), the Money Laundering Regulations 2003, money laundering and the PCA. Goes on to the recovery of the proceeds under the PCA by confiscation orders, restraint orders, compensation orders, etc. Lists in a table the warning signs of money laundering.