Calyx Solutions Learning

The Proceeds of Crime Act 2002 (POCA) is an Act of the Parliament of the United Kingdom which provides for the confiscation or civil recovery of the proceeds from crime and contains the principal money laundering legislation in the UK. It has been playing a central role in recovery of criminal property since 2002. The aim of the act is “to deny criminals the use of their assets, recover the proceeds of crime and disrupt and deter criminality.” This course is designed to guide you on how and where you may encounter POCA proceedings. The act clarifies that banks, currency exchange and money service businesses, as well as professional firms such as solicitors, accountants, and insolvency practitioners who suspect (as a consequence of information received in the course of their work) that their customers or clients (or others) have engaged in tax evasion or other criminal conduct from which a benefit has been obtained, are now required to report their suspicions to the authorities (since these entail suspicions of money laundering).