Anti Money Laundering Policy 2021 to 2022

3.1 Money Laundering describes offences involving the integration of the proceeds of crime, or terrorist funds, into the mainstream economy. Such offences are defined under The Proceeds of Crime Act 2002 as the following prohibited acts:

• concealing, disguising, converting, transferring or removing criminal property from the UK
  
• becoming involved in an arrangement which an individual knows, or suspects facilitates the acquisition, retention, use or control of criminal property by or on behalf of another person
  
• acquiring using or possessing criminal property
  
• doing something that might prejudice an investigation for example falsifying a document
  
• failure to disclose one of the offences listed above where there are reasonable grounds for knowledge or suspicion
  
• tipping off a person who is suspected of being involved in money laundering in such a way as to reduce the likelihood of or prejudice an investigation

3.2 Money laundering activity may range from a single act, for example being in possession of the proceeds of one’s own crime, to complex and sophisticated schemes involving multiple parties and multiple methods of handling and transferring criminal property as well as concealing it and entering into arrangements to assist others to do so. Council employees need to be alert to the risks of clients, their counterparties and others laundering money in any of its many forms.

3.3 Under section 18 of the Terrorism Act 2000 it is an offence for a person to enter into or become concerned in an arrangement which facilitates the retention or control by or on behalf of another person of terrorist property by concealment, removal from the jurisdiction, transfer to nominees or in any other way. Terrorist property is defined as money or other property which is likely to be used for the purposes of terrorism (including any resources of a prescribed organisation), proceeds of the commission of acts of terrorism, and proceeds of acts carried out for the purposes of terrorism.

3.4 It is important to note that anyone, Council employee or not, can commit any of the above offences. However, in addition to these offences there are a series of obligations imposed on the Council by the 2007 Money Laundering Regulations that it must fulfil, and of which breach can also amount to an offence by the Council.