Money Laundering

Question 1

Concealing

Answer 1

If the solicitor subjectively knows or suspect that they are concealing converting or transferring criminal property or removing it from the UK

Defences
- disclosure was made to a nominated officer of the firm before the concealing transaction occurred
- disclosure was made after the concealing transaction occurs with good reasons asked the delay

Question 2

Arranging

Answer 2

If the solicitor knows or suspects, they are facilitating the acquisition, retention, use or control of criminal property by or on behalf of another person

Question 3

Acquisition, use, or possession

Answer 3

If the solicitor acquires possesses or uses criminal property, knowing or suspecting it is criminal property

Defence
- Good faith and adequate consideration

Question 4

Tipping off

Answer 4

• if a solicitor indicates to a client that SAR has been submitted or discloses that an investigation is on the way
• objective test