Money laundering offences

In this lesson

1. 0:00 Money laundering offences explained
2. 0:33 Criminal property and proceeds defined
3. 1:42 UK legislation and reporting requirements
4. 3:04 Consequences of non-compliance
5. 4:00 Reporting to authorities and legal privilege
6. 5:08 Professional scepticism and risk awareness
7. 5:50 Money laundering in exam scenarios

About this lesson

This lesson covers the key offences—acquiring or possessing criminal property, concealing transactions, and failing to report suspicions—and explores what qualifies as "criminal property," from stolen goods to proceeds of tax evasion and health and safety breaches. You'll understand the UK legal framework (Proceeds of Crime Act and Money Laundering Regulations), the severe consequences of non-compliance, and your obligation to report to the National Crime Agency. Crucially, you'll see how legal privilege doesn't protect accountants and auditors, meaning the law supersedes client confidentiality when money laundering is suspected. This is essential knowledge for your professional qualification and workplace practice. Money laundering offences appear regularly in exam scenarios, and as a finance professional, you need to recognise suspicious activity, understand your reporting duties, and protect yourself and your firm from serious legal and reputational risk. The lesson uses practical examples to show how everyday cost-cutting measures—like failing to provide safety equipment—can constitute money laundering if they breach the law, helping you spot these issues in real situations.

Duration: 7m