188ÌåÓý

The (POCA)Ìýsets out the primary offences related to money laundering (and defines money laundering) at Part 7, sections 327-329Ìýas follows:Ìý

â—� Concealing, disguising, converting, transferring or removing criminal property from the United KingdomÌý(section 327).Ìý

â—� Entering into or becoming involved in an arrangement which facilitates the acquisition, retention, use or control of criminal property by or on behalf of another person (section 328 POCA).Ìý

â—� The acquisition, use and/or possession of criminal property (section 329 POCA).Ìý

POCAÌýalso makes it an offenceÌýfor a person to fail to disclose or report suspicious activityÌý(i.e. knowledge or suspicion of money laundering) to a nominated officer or a person authorised by the National Crime Agency (NCA)Ìýwhere that information came to the person in the course of a business in the supervised (regulated) sector (section 330) and for tipping off any person that you’ve reported or intend to report where this isÌýlikely to prejudice any investigation (section 333A POCA). There is a similar offence whichÌýapplies to nominated officers under section 331 POCA.ÌýÌý

However, it will be a defence under section 330(6) POCAÌýif a person can demonstrate they had a reasonable excuse for not making the required disclosure to the nominated officer or a person authorised by the NCA.ÌýIt will also be a defence for the nominated person or person authorised by the NCA for failing to make the required disclosure if they too have a reasonable excuse for not doing so (section 331(6) POCA). Section 331(6A) POCAÌýalso provides that it will equally be a defence to demonstrate that the money laundering offence occurred in a territory outside the UK.ÌýÌý

Disclosures to the NCA are made by way of Suspicious Activity Reports (SARs) The NCA have published guidance on making SARsÌýon their Ìý

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