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Explaining The Proceeds Of Crime Act 2002

criminal money
Since 2002 the government has been actively trying to recover assets that are gained by criminal activity and purchased or obtained from the proceeds of these illegal actions. The most relevant legislation is the 2002 Proceeds of Crime Act and this was created following a government report in the year 2000 entitled: Recovering the Proceeds of Crime.

However what does this act actually do and how can it affect someone if they have been accused of having assets gained from illegal activity?

Money Laundering

One of the most common ways in which to make money gained from illegal activities seem 'clean' is to launder it. The Proceeds of Crime Act was created to target several areas of criminal activity and money laundering was one of them.

Selachii LLP solicitors in London can provide expert legal advice if you have been accused of money laundering. While much of the Proceeds of Crime Act relates to money laundering there are actually several pieces of different legislation that cover this crime.

Asset Recovery

For many people the Proceeds of Crime Act means recovering assets that have been gained through money that didn't come from a legal source. Asset confiscation is very common in these cases and it is a case of the accused trying proving that their assets have come from legal means.

This is why an experienced solicitor is imperative in these cases to ensure that the defendant has the best possible chance of proving that their assets have come from lawful means. This is enforced by the Assets Recovery Agency which was set up in conjunction with this act in 2002 and has since been merged into the Serious Organised Crime Agency (SOCA).

Unique Cases

One of the most important things to do if you are under investigation for money laundering is to seek an expert solicitor.

No two cases that come under the Proceeds of Crime Act or are related to money laundering are the same and there is a very real chance that your assets will be confiscated. A solicitor with experience in money laundering, money gained from illegal means and the legislation itself can assist you to mount a strong defence to any allegations.

Since its enactment in 2002 the Proceeds of Crime Act has targeted thousands of people who have been accused and then found guilty of gaining assets by illegal means. Just because you have been accused doesn't automatically mean guilt and many people have successfully been able to show that their assets weren't gained with money laundering.

However in order to do this, a qualified and experienced lawyer in London is needed. The law surrounding these crimes can be intricate and complex and without knowledgeable and skilled legal counsel it can be difficult to obtain a successful outcome in your case.

The Proceeds of Crime Act has been one of the major pieces of legislation brought into law since the millennium and it is an area of law where an expert solicitor is definitely required.

To speak with a solicitor at Selachii LLP call 02077925649 or email info@selachii.co.uk

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