Our Money Laundering Solicitors Promise

Money laundering is where an individual gains money from an illegal source and then attempts to make the money seem legitimate. A money launderer makes money seem legitimate by passing it through a complex web of bank transfers and transactions to disguise its true origin. Money launderers’ aim to get banks and other financial institutions 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 the 3 main stages involved in money laundering:

1. Placement – this is when money launderers deposit money into a bank. Large amounts will sometimes be deposited in smaller amounts.

2. Layering – money is moved domestically or internationally with the intention of mixing it in with legitimately sourced funds to hide its origin.

3. Integration – essentially the successful ‘laundering’ of dirty money, this means the money is ready to be spent.

Some of the common examples of money laundering include:

1. Property laundering. Less common these days, property laundering involves buying properties for cash sums where the cash has been illegitimately gained. Changes in anti-money laundering regulations have successfully reduced opportunities to buy property with cash.

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

3. Trade-based laundering. This typically involves company directors who move money between businesses. To banks and HMRC, these transactions look like legitimate business transactions that are often mixed in among real business takings.

4. Forfeiture.This is where the police can seize cash sums of over £1,000 if they believe they have been illegitimately gained.

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 are uncapped. Furthermore, in the circumstances of a forfeiture case, our money laundering solicitors’ experience is that 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.

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.