Specialist London Solicitors in Money Laundering cases
At MFI Law Limited we have the expertise in representing clients charged with money laundering offences. Our London Solicitors are available to represent clients at London Police Stations, Magistrates' and Crown Courts throughout the country.
A person commits an offence if he conceals criminal property, disguises criminal property, converts criminal property, transfers criminal property or removes criminal property from England and Wales or from Scotland or from Northern Ireland.
A person commits an offence if he enters into or becomes concerned in an arrangementwhich he knows or suspects facilitates (by whatever means) the acquisition, retention, use or control of criminal property by or on behalf of another person.
A person commits an offence if he acquires criminal property, uses criminal property or has possession of criminal property.
Money Laundering is the process by which criminal proceeds are ‘cleansed’ in order to avoid detection from their illicit origins. Alleged offenders will normally distance themselves from their crimes by finding safe havens for their profits where they can avoid confiscation Orders, and where those proceeds can be made to appear legitimate.
Money laundering operations can be very sophisticated whereby a process can go through a number of stages such as:
Placement—the process of getting criminal money into the financial system.
Layering—the process of moving money in the financial system through complex webs of transactions.
Integration—the process by which criminal money ultimately becomes absorbed into the economy.
It is common for offenders to launder money through cash intensive businesses. Where the cash flows appear too large or the profit margins too high this may be capable of giving rise to expert evidence that the business will usually give rise to a particular level of profit and the profits are excessive which together with other available evidence can be sufficient to prove the underlying criminality as set out in the case of R. v. Boam 1998.