Tracing and confiscating the proceeds of crime

Journal of Financial Crime

Volumn 11, Issue 2, 2004, Pages 168-185

  Cribb, Nicholas ^a  

^a Crown Prosecution Service ^*  (United Kingdom)

Author keywords

Assets; Forfeiting; Laws and legislation; Money laundering; United Kingdom

Indexed keywords

EID: 84992954227     PISSN: 13590790     EISSN: 17587239     Source Type: Journal    
DOI: 10.1108/13590790410809103     Document Type: Review

References (65)

1. The Times, Friday, 23rd May, 2003 (unreported).
2. Manchester Crown Court, 1st July, 2001 (unreported).
3. [2002] EWCA Crim 2117.
4. ‘Money-laundering: A Cautionary Tale’, The Times, 16th October, 2001.
5. Myint, R. (2003) ‘Solicitors Beware: Money Laundering after R v Duff, Journal of International Trust and Corporate Planning, Vol. 10, No. 2.
6. See text accompanying refs 74-84 below.
7. See text accompanying refs 64-69 below.
8. Cost Effectiveness of Crime Prevention (1996) Home Office.
9. This includes expenditure of -£12bn on the criminal justice system, -£28bn on pain and suffering and £2bn on insurance premiums.
10. Economic Trends (1998) Office for National Statistics, July.
11. Walker, J. (2000) ‘How Big is Global Money Laundering?’, Journal of Money Laundering Control, Vol. 3, No. 1.
12. Eide, E. (2000) ‘Economics of Criminal Behavior’, in Bouckaert, B. and De Geest, G. (eds), Encyclopedia of Law and Economics, Vol. 5, Edward Elgar, Cheltenham.
13. Research by Lidstone (1984) indicates that magistrates rarely refuse to grant a warrant; if they did, the police would simply stop applying to them and go to another magistrate instead.
14. Defined in s. 14.
15. PACE, s. 19.
16. The PCA 2002 replaces the production order and search warrant provisions of the CJA 1988 but they will be mentioned in this paper for the sake of completeness.
17. ‘Person(s)’ include corporations and partnerships.
18. Usually the application will be to take the material away to be examined.
19. A conservative estimate of the extent of the money laundering problem is that it totals in excess of $500bn annually worldwide. Although a conservative estimate, it is a staggering amount and detrimental to any financial institution involved.
20. See generally Carr, J. (1989) How to Recognise a Money-Launderer, IFLRIO.
21. Para. 4 of the Money Laundering Regulations 2003.
22. ‘Guidance Notes for Mainstream Banking, Lending and Deposit Taking Activities’, Joint Money Laundering Steering Group.
23. Rider, B. and Ashe, M. (1996) Money Laundering Control, Sweet & Maxwell, London.
24. [1981] 1 AC 470.
25. R v Kemp and others (1979) 69 Cr. App. R 330 (Cuthbertson being party to the prosecution).
26. R v Cuthbertson, ref. 27 above, p. 479G.
27. Scott v Metropolitan Police Commissioner [1975] AC 819.
28. See ref. 27 above, p.484F.
29. See the Money Laundering Regulations 2003.
30. Repealed by PCA 2002.
31. (1992) 95 Cr. App. R 67.
32. Disclosure is normally to the NCIS.
33. DTA, s. 50(4).
34. DTA, s. 50(3).
35. DTA, s. 50(5).
36. Under s. 329 PCA 2002 it is no longer necessary for the prosecution to show that A had knowledge that property represents the proceeds of another's crime.
37. DTA, s. 51(2).
38. DTA, s. 51(4).
39. The section has now been repealed by s. 330 PCA 2002.
40. DTA, s. 52(1).
41. See above, subsection on ‘International developments’. See also the Second Money Laundering Directive.
42. DTA, s. 52(2) defines ‘privileged circumstances’.
43. DTA, s. 53(1).
44. DTA, s. 53(2).
45. DTA, s. 53(3).
46. DTA, s. 53(4).
47. DTA, s. 53(6).
48. See above, ‘Following the “Money Trail” ‘.
49. DTA, s. 58(3).
50. See the negligence-based test under the Proceeds of Crime Act 2002 (text accompanying refs 80-83, below).
51. A survey commissioned by Swat Ltd revealed that 45 per cent of UK businesses are at risk of ignoring the new money laundering law, with only 70 per cent of solicitors aware of their duties under the new regulations.
52. Jack Straw MP, foreword to the draft Proceeds of Crime Bill, 2001.
53. See DTA, s. 51; text at refs 48-50 above.
54. Corker, D. (2001) ‘A Laundry of Choice?’ The Times, 16th October.
55. The House of Lords commented on the scope of the term in Manifest Shipping Co v Uni-Polaris Shipping Co. [2001] 2 WLR 170, at para. [116] per Lord Scott.
56. See the recent Goldfinger case: ‘Judge's blunder leaves crook with £33 million’, Evening Standard, 24th May, 2003.
57. (1993) 96 Cr. App. R 194.
58. R v Carroll [1991] CLR 720.
59. Other offences under Schedule 2 include directing terrorism, people trafficking, arms trafficking, counterfeiting and offences of pimping and the running of brothels.
60. Southwark Crown Court Order No. T94 0361, 10th October, 1994 (unreported).
61. Taken from cvdfk.com: Julia Penny, Money Laundering - Your Fast Route to Jail?
62. Myint, ref. 5 above.
63. Restitution Discussion Group Online, Cambridge University.
64. The Irish Times website.
65. Restitution Discussion Group, ref. 105 above.