Individuals and companies can be prosecuted for committing any of the substantive money laundering offenses under POCA whether or not they are part of the regulated sector.  Individuals and companies can be prosecuted even if the money laundering took place entirely outside the UK, provided that a significant portion of the predicate criminal conduct took place in the UK and had harmful consequences in the UK.

POCA’s suspicious activity reporting requirements apply only to firms in the regulated sector (and, in certain circumstances, nominated officers appointed to receive disclosures in the non-regulated sector).  For more on the regulated sector, see here.

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