Many conversations and anecdotes over the years have lead the writers of this blog to conclude that very few professionals understand money laundering clearly, and most of those that do, inhabit the rarified world of business crime and regulatory law. This feeling is based in part on questions like:
“What’s the regulated sector?”
“Aren’t we all regulated?”
“What’s a SAR?”
“Don’t I have to report every crime as a solicitor?”
“What’s LPP?”- this last one from the then senior party of a large London firm.
And let’s not even get started on what people think “tipping off” means.
And best of all the corporate lawyer dealing with a share purchase for his client who opened another file in the client’s name called “money laundering” and then effectively laundered money through it, receiving funds from an unidentifiable source and sending them to an unrelated third party, entirely separately to the main transaction. Strangely the police subsequently became interested in this arrangement.
So we thought this website, Antimoneylaundering.lawyer, might throw some light on the issues that we see on a daily basis and give professionals food for thought before they take that step they will regret for the rest of their professional lives.
Remember though, none of the content we post on this website is legal advice – if in doubt, retain a specialist. You know it makes sense.