Proceeds of Crime Act (POCA) 2002

Proceeds of Crime Act (POCA) 2002 

Proceeds of Crime Act 2002 (POCA) is an Act of the Parliament of the United Kingdom which provides for the confiscation or civil recovery of the proceeds from crime and contains the principal money laundering legislation in the UK.

The act was enacted following the publication on 14 June 2000 of new government policy as set out in the Performance and Innovation Unit’s report “Recovering the Proceeds of Crime”. It deals with a wide range of matters relevant to UK law on proceeds of crime issues. These include confiscation orders against convicted individuals (requiring payment to the State based upon the benefit obtained from their crimes), civil recovery of proceeds of crime from convicted individuals, taxation of profits generated from crime, UK anti-money laundering legislation, powers of investigation into suspected proceeds of crime offences, and international co-operation by UK law enforcement agencies against money laundering.

 

The Terrorism Act 2000

It is an offence to enter into become involved in an arrangement facilitating the retention or control of terrorist property by, or on behalf of another person concluding, but not limited to, the following ways:

  • Concealment
  • Removal from the jurisdiction 
  • Transfer to nominees

There is a defence to the section 18 offence if you did not know, and had no reasonable cause to suspect, that the arrangement related to terrorist property.

The penalty for Terrorism Act offences can be a maximum of 14 years. 

Defence against prosecution may be based on the following;

Having been involved in co-operation with the police and having made arrangement with prior consent.

Having made a disclosure after entering into arrangement. It is possible to make a disclosure if you are already involved in a transaction or arrangement involving terrorist financing so long as there is a reasonable excuse for failure to make a disclosure in advance. However, reporting in advance is preferable.

Having a reasonable excuse for failure to disclose. There is also a defence if you intended to make a disclosure but have a reasonable excuse for failing to do so.

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