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Background And Outline Of Proceeds Of Crime Act

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Background and Outline of Proceeds of Crime Act (POCA) 2002

In 1998 the Performance & Innovation Unit (PIU) of the Cabinet Office examined asset recovery arrangements with a view to improving the efficiency of the recovery process and increasing the amount of illegally obtained assets recovered. The associated report was published in June 2000 with a number of legislative and other proposals including the Proceeds of Crime Act (POCA) 2002 to deter criminality by removing access to the proceeds of crime. POCA created the following substantive offences of money laundering.

Section 327 (Concealing)
A person commits an offence if he conceals, disguises, converts, transfers or removes criminal property.
Concealing or disguising criminal property includes concealing or disguising its nature, source, location, disposition, movement or ownership or any rights with respect to it.

Section 328 (Arrangements)
A person commits an offence if he enters into or becomes concerned in an arrangement which he knows or suspects facilitates (by whatever means) the acquisition, retention, use or control of criminal property by or on behalf of another person.

Section 329 (Acquisition, Use and Possession)
A person commits an offence if he acquires criminal property; uses criminal property; has possession of criminal property.

Outline of amendments made by Serious Organised Crime and Police Act (SOCPA) 2005

Amendments made to POCA substantive offences of money laundering (S327-S329) under

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