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Thread: Know UK legislation.

  1. #1
    Join Date
    Feb 2007
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    Lightbulb Know UK legislation.

    The 'money laundering' legislation in the United Kingdom, under Sections 327 to 340 of the Proceeds of Crime Act 2002 (PoCA), is wide-ranging and encompasses mere possession of criminal or terrorist property as well as its acquisition, transfer, removal, use, conversion, concealment or disguise.[5] In the UK 'money laundering' need not involve money (it relates to assets of any kind, both tangible and intangible, and to the avoidance of a liability) and need not involve laundering either (a thief's possession of the assets he himself stole is included). There is no lower limit to what has to be reported - a suspicious transaction involving a single 5 note may be required to be reported.


  2. #2
    Join Date
    Apr 2007
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    Thanks for the heads up Sash, this may come in handy.

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