Money laundering offences—failure to disclose offences


Produced in partnership with Jessica Parker of Corker Binning
Practice notes

Money laundering offences—failure to disclose offences


Produced in partnership with Jessica Parker of Corker Binning

Practice notes
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Failure to disclose offences under the Proceeds of Crime Act 2002

There are four separate offences relating to the failure to disclose information under the Proceeds of Crime Act 2002 (POCA 2002):

  1. •

    failing to disclose to a nominated officer or other authorised person when operating in the regulated sector—wide application, not limited to nominated officers

  2. •

    failure to disclose, on the part of a nominated officer operating in the regulated sector

  3. •

    failure to disclose, on the part of a nominated officer operating in the unregulated sector

  4. •

    failure to make a disclosure otherwise than in the form prescribed

POCA 2002, ss 330 and 331 together create an obligation on the regulated sector to report to the appropriate authorities suspicions of money laundering (ie the conversion of the proceeds of crime into assets which appear to have a legitimate origin). POCA 2002, s 332 creates the same obligation for specific persons (ie nominated officers) in the non-regulated sector who receive information as a result of disclosures made by employees under sections 337 (protected

Jessica Parker
Jessica Parker

Corker Binning

Jessica Parker is a Partner at Corker Binning, a law firm specialising in financial crime, regulatory and police investigations and litigation.

Jessica regularly acts for individuals, financial institutions and companies in investigations and proceedings brought by a wide range of prosecuting bodies. She is ranked for Crime, Financial Crime: Individuals and POCA Work & Asset Forfeiture by Chambers and Partners UK 2019 and is recommended by the Legal 500 2019 in Fraud: White-collar Crime and Professional Discipline. Jessica is also recognised in
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WWL Thought Leaders - GIR 2019 as a leading practitioner in the areas of Asset Recovery, Business Crime Defence and Investigations.

Jessica has particular experience in corruption and tax fraud investigations and prosecutions and investigations originating overseas. She frequently advises clients within the financial services industry and other regulated professionals.

In connection with her white collar crime practice, Jessica has extensive experience of money laundering, restraint, confiscation and cash seizure proceedings on behalf of defendants and third parties.

Jessica also has a police investigations practice and has represented a number of high profile individuals in relation to the most serious criminal charges, including rape and serious assault.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Money laundering definition
What does Money laundering mean?

money laundering or the use or process of taking the proceeds of criminal activities and making them appear legal is an activity which bankers are required to prevent and report under certain regulations.

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