The laundering trap
Cottam, G.
The laundering trap - 2004 - Construction News (6893) 18 November 2004, 41(1) .
Clarifies the provisions of the Proceeds of Crime Act 2002 and Money Laundering Regulations 2003, which have confused lawyers and construction professionals alike. Lack of case law has added to worries about the rules. The regulations require anybody involved in a relevant business to have procedures by which to secure the identity of those with whom it enters into contract. Points out that those affected should assume that they have the duty to report suspected fraud to the National Criminal Intelligence Service. Highlights that the penalty for non-compliance includes a prison sentence of up to six months.
PROCEEDS OF CRIME ACT 2002
MONEY LAUNDERING REGULATIONS 2003
MONEY LAUNDERING
NATIONAL CRIMINAL INTELLIGENCE SERVICE
The laundering trap - 2004 - Construction News (6893) 18 November 2004, 41(1) .
Clarifies the provisions of the Proceeds of Crime Act 2002 and Money Laundering Regulations 2003, which have confused lawyers and construction professionals alike. Lack of case law has added to worries about the rules. The regulations require anybody involved in a relevant business to have procedures by which to secure the identity of those with whom it enters into contract. Points out that those affected should assume that they have the duty to report suspected fraud to the National Criminal Intelligence Service. Highlights that the penalty for non-compliance includes a prison sentence of up to six months.
PROCEEDS OF CRIME ACT 2002
MONEY LAUNDERING REGULATIONS 2003
MONEY LAUNDERING
NATIONAL CRIMINAL INTELLIGENCE SERVICE