Our Money Laundering Solicitors Promise

Money laundering is where an individual gains money from an illegal source and then attempts to make money seem legitimate. A money launder makes money seem legitimate by passing it through a complex web of bank transfers and transactions to disguise its true origin. Money launder’s main objective is for banks and others to handle the “dirty money” without suspicion.

Therefore, if an individual conceals the origins of money, especially after it has passed through a sequence of transactions, it will raise money laundering suspicions and potentially an allegation.

Our money laundering solicitors outline that money laundering commonly involves three steps, which are:

1. Placement. This stage represents the initial entry of the “dirty money” into the financial system. As the name suggests, cash is placed into a bank account or other banking product to begin the cleaning process. Where large sums of money are involved, launders can sometimes break down the money into smaller deposits to avoid attention.

2. Layering – Again, just as the term would suggest, this stage involves camouflaging the money through layers to separate it from its illegal source. A money launderer will continuously move funds domestically and sometimes internationally to escape detection. As the number of layers increases, so does the money’s legitimacy, as the origin is harder to pinpoint.

3. Integration – This is the divine end for money launders. In the integration stage, the dirty money is finally returned to the money launderer from a seemingly legitimate source. Once the launder has the money back, they will likely invest in expensive cars and watches or products like investments, bonds, ISAs and cryptocurrency. 

Some of the common examples of money laundering include:

1. Property laundering. Launders usually look to property laundering when they have too much physical cash. As a result, purchasing property and land is seen as the only way to place it into the system. Then, after a reasonable period has passed, the property is sold. Putting the cash into the system is so vital to money launders that they often make a loss, but this doesn’t matter so long as the money is clean.

2. Casino and gambling laundering. A launderer purchases casino chips, which they later return for cash or transfer into their account. Casino’s have a check and measure in place these days to reduce this type of money laundering from taking place. 

3. Trade-based laundering. This typically involves company directors who alter business invoices or documents to cover-up the laundering of money. Information on legitimate invoices is changed, such as the price, number of units purchased and payment details. The money launders create a paper trail that seems legitimate to banks and the authorities, but they may not be quite what they seem. This type of money laundering tends to become complicated, especially when an international layering element is introduced. 

4. Forfeiture. A police officer seizes cash of not less than £1000 because the officer suspects that the money comes from or will be used for illegitimate means. 

Money laundering cases can be tried in the Magistrates’ Court by magistrates or in the Crown Court by a judge and jury. Generally, it’s only the more severe money laundering cases that are tried in the Crown Court.

In cases heard in the Magistrates’ Court, the maximum punishment is 6 months imprisonment (12 months if you’re being tried for more than one offence). The fines for money laundering offences in the Magistrates’ Court is uncapped. Furthermore, in the circumstances of a forfeiture case, you’re likely to have all the money permanently confiscated.

In contrast, if you are deemed guilty in the Crown Court, the maximum sentence you will receive is 14 years imprisonment. Additionally, like the Magistrates’ Court, there is no cap on a fine.

When it comes to a money laundering case, it’s impossible to provide you with a price estimate before knowing your matter in detail. It’s key to understand what accusation you’re facing.

Our money laundering solicitors will need to have an initial consultation with you to run through all the details of your criminal defence. Your money laundering solicitors will provide you with a more precise cost and time estimate for your case, as well as advise you on the criminal proceedings in general. The initial cost of a consultation with our criminal defence lawyers is £90 + VAT (£108).

Britton and Time Solicitors are currently unable to offer legal aid in any capacity. We are a privately funded firm only. If you have had money seized, speak to a solicitor today to determine if you can realise some of the money to fund your legal matter.

Currently, the firm is not taking any pro bono work as we are at capacity.