What UK Proceeds of Crime Act 2002 Section 327 - Concealing etc Criminal Property (Concealment, Disguise, Conversion, Transfer, Removal from UK) requires
Section 327 of the Proceeds of Crime Act 2002 (c. 29) is the first of the three principal UK money laundering offences (sections 327-329) and operates as the primary statutory tool for prosecuting concealment, disguise, conversion, transfer, or removal from the UK of criminal property. Under section 327(1), a person commits an offence if he (a) conceals criminal property, (b) disguises criminal property, (c) converts criminal property, (d) transfers criminal property, or (e) removes criminal property from England and Wales or from Scotland or from Northern Ireland. Defences include authorised disclosure with appropriate consent under section 338, reasonable excuse for non-disclosure, conduct in enforcement of POCA, overseas-conduct exemption where the relevant criminal conduct was lawful in that jurisdiction, deposit-taking institution threshold exemption (s.327(2C)), regulated-sector termination exemption (s.327(2D-2E)), and regulated-business mixed-funds exemption (s.327(2F-2G)). Section 327(3) clarifies that concealing or disguising includes concealing 'its nature, source, location, disposition, movement or ownership or any rights with respect to it'. Maximum penalty under section 334 is 14 years on indictment and/or unlimited fine.
Pillar: Financial Crime, AML & Sanctions · Authority: Parliament of the United Kingdom · Version: 1.0.0 · Last updated:
Primary source: https://www.legislation.gov.uk/ukpga/2002/29/section/327
SHA-256 integrity: e7dbaf63c5352704eb7e990286e1025e3e7fabe07814036c5576ea93b4f000ce
Primary Citations — 7 traced to source
- Proceeds of Crime Act 2002 (c. 29) Section 327 (Concealing etc) subsection (1): 'A person commits an offence if he (a) conceals criminal property; (b) disguises criminal property; (c) converts criminal property; (d) transfers criminal property; (e) removes criminal property from England and Wales or from Scotland or from Northern Ireland.' Published at legislation.gov.uk/ukpga/2002/29/section/327.
- POCA 2002 Section 327(2): defences - authorised disclosure under section 338 with appropriate consent; reasonable excuse for non-disclosure; act done in carrying out POCA-enforcement function.
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