Page 280 - Microsoft Word - 00 Prelims.docx

Chapter 12

It is also an offence to incite another person to commit a money laundering offence.
Inciting means knowingly encouraging or assisting another person.

It is a defence to show that:

 A report was made to the National Crime Agency (NCA) or the firm’s Money
Laundering Reporting Officer (MLRO), or

 It was intended to report, but there was a reasonable excuse for not having
done so.

The maximum penalty for this offence is an unlimited fine and up to fourteen years’
imprisonment.

Failure to report

Under s330 it is an offence for individuals carrying on a `relevant’ business to fail to
disclose to the NCA or the business’s MLRO any knowledge or suspicion of money
laundering where they know or suspect, or have reasonable grounds for knowing or
suspecting, that another person is engaged in money laundering.

Defences – again it is a defence to say there was a reasonable excuse for not
making the report and it is also a defence to say the person does not know or
suspect money laundering and that his employer has not provided him with
appropriate training.

This offence only relates to individuals, such as accountants, who are acting in the
course of business in the regulated sector.

The maximum penalty for failure to report is five years’ imprisonment and an
unlimited fine.

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