Proceeds of Crime Act Investigations

The Proceeds of Crime Act 2002 has two aims:

• To prevent money laundering
• To confiscate any proceeds gained from criminal offences.

POCA makes it a criminal offence to use any property obtained through criminal activity. Property could include money, shares, or goods.

Authorities have wide-ranging powers to confiscate assets thought to have been gained illegally. The penalties for offences under the POCA vary depending on how much money is involved and how much evidence there is to show you may be involved. As a maximum penalty, you could face up to 14 years in prison. 

You may be issued a confiscation order, which requires you to pay a fixed sum. This sum is either how much you’re suspected to have made from alleged criminal conduct, or the amount payable. Its normally whichever figure is lower. This could lead to financial difficulties depending on how much you’re ordered to pay. If you can’t pay, you may be given a prison sentence. Even if you’re sent to prison, you might still need to pay the confiscation order. 

Restraint orders, which preserve your assets until a confiscation order is fully paid, can also be issued. This means you wouldn’t be able to access your assets if you needed to. Reputational damage is a major side effect of an alleged offence under the Proceeds of Crime Act. Whether you’re accused as an individual or as part of a company, the impact a POCA investigation can have on your reputation can be devastating. This is why it’s vital you contact us as soon as possible after coming under investigation. We’ll take all steps possible to minimise the impact the investigation has on your life and work to ensure your name is cleared.

If you’re being investigated under the Proceeds of Crime Act, our POCA solicitors are here to help you. We also advise companies, financial institutions and professional services firms who are under investigation.

Our expertise in POCA investigations means we’re able to help you in a wide range of situations:

• Helping you to secure the return of your cash or assets
• Advising and representing you in the event of search, seizure of assets, a restraint order, or freezing of assets
• Supporting you with applications to discharge or vary a restraint order
• Advising and representing you in confiscation proceedings, in which you’d need to pay an amount determined by the court
• Some matters may lead to years of complex litigation – we’ll advise and represent you in any litigation
• Conducting preventative checks on a company asset base
• Advising you on company processes for monitoring money laundering or POCA compliance.