... and reported. In the UK Proceeds of Crime Act 2002, Sections 327, 328, and 329 create three principal money laundering offences where the alleged offender knows or suspects that property constitutes or represents benefit from any criminal conduct. The word is subjective, defined in the Cambridge Dictionary...

... that the perception of trade-based money laundering in financial services is overly focussed on placement, layering and integration, and that the full extent of the offence under the Proceeds of Crime Act 2002 is less well known. It further found that financial services firms need to improve their understanding...