Defending Financial Investigation
Proceeds of Crime Act (POCA) proceedings represent the government's most powerful tool for stripping assets from those involved in crime. These civil proceedings follow criminal convictions, seeking to confiscate not just criminal profits but sometimes legitimate wealth too. Understanding POCA's complexities and mounting effective challenges requires specialist financial crime expertise.
Money laundering charges often accompany other criminal allegations or arise from suspicious financial activity. In our interconnected financial system, legitimate transactions can appear suspicious, leading to devastating criminal charges. The overlap between regulatory requirements and criminal law creates minefields for professionals and business owners.
Understanding Financial Crime Laws
Money laundering encompasses three distinct offences: concealing criminal property, entering arrangements involving criminal property, and acquiring criminal property. Each carries 14-year maximum sentences. Crucially, suspicion rather than knowledge suffices for conviction, catching those who should have suspected money's origins.
POCA confiscation follows criminal convictions, calculating "criminal benefit" and available assets. Criminal lifestyle assumptions can deem all assets as crime-derived unless defendants prove otherwise. This reverse burden of proof shocks many facing POCA proceedings for the first time.
Account Freezing Orders and Unexplained Wealth Orders allow asset freezing without criminal charges. These investigatory tools disrupt lives and businesses whilst investigations proceed. Challenging these orders requires immediate action to protect legitimate business interests.
Building Effective Defences
The following is not to be used as legal advice, it is a general understanding of events.
Tracing legitimate wealth origins forms the cornerstone of POCA defences. We work with forensic accountants to demonstrate legitimate income sources, inheritances, and investment gains. Historical financial records become crucial - we advise preserving all financial documentation.
Challenging benefit calculations requires meticulous analysis. Prosecutors often inflate figures through double-counting or including gross rather than net profits. We dissect calculations line-by-line, ensuring only actual criminal benefits are counted.
Hidden assets allegations feature in most POCA cases. Prosecutors assume wealth exists based on lifestyle analysis. We counter these assumptions with detailed financial investigations, demonstrating where money actually went rather than where prosecutors assume it remains.
Protecting Legitimate Interests
Third-party interests complicate POCA proceedings. Spouses' assets, jointly-owned properties, and legitimate business partners' interests need protection. We ensure innocent parties' rights are recognised whilst defending principal proceedings.
Enforcement proceedings follow confiscation orders. Payment plans, asset sales, and appointment of enforcement receivers all feature. We negotiate realistic payment arrangements whilst protecting family homes and essential assets where possible.
International dimensions increasingly feature in financial crime cases. Offshore accounts, cryptocurrency, and cross-border transactions complicate prosecutions and defences. We work with international counsel to coordinate global defence strategies.
Professional money laundering charges threaten careers in regulated sectors. Accountants, solicitors, and financial professionals face criminal charges alongside regulatory proceedings. We coordinate defences across multiple forums, protecting professional futures whilst fighting criminal charges.
Don't let financial allegations strip away decades of legitimate success. Our specialist financial crime team understands POCA's complexities and how to protect your assets. Contact us immediately if you're facing financial investigation or confiscation proceedings.