Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Financial crime definition

What does Financial crime mean? In legal practice, financial crime means criminal conduct involving money, financial services or financial markets. In the UK, section 1H(3) of the financial services and markets act 2000 defines it as any criminal conduct relating to money or to financial services or markets, including offences involving fraud or dishonesty, misconduct in or misuse of information relating to a financial market, and handling the proceeds of crime. UK regulators (FCA, PRA) construe this broadly. Typical offences include: - fraud and dishonesty offences; market abuse (insider dealing, manipulation) - money laundering and terrorist financing; dealing with the proceeds of crime - bribery and...

Financial crime investigations: law firms’ guide to enforcement action—production orders, search and seizure, disclosure notices, notices to produce, information orders, arrest, restraint and confiscation

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Practice notes

Employees are required to escalate money laundering and terrorist financing concerns to your nominated officer, who is then obliged, under the Proceeds of Crime Act 2002 (POCA 2002) and the terrorism Act 2000 (TA 2000), to notify the National Crime agency (NCA) of any knowledge or suspicion of money laundering or terrorist financing via a suspicious activity report (SAR). The NCA assigns SARs to financial investigation officers for further inquiry. Intelligence derived from SARs may then be shared by the NCA with other law enforcement or government agencies, which may request additional material. Where further detail is needed after a SAR, it can be obtained through enforcement measures (typically a production order) under POCA 2002. Although you must adhere to any court order, you are also under a duty to protect your client’s confidentiality; see Practice Note: SARs and confidentiality. This Practice Note is aimed at law firms. It outlines the range of enforcement steps you might encounter during a financial crime investigation, such as production orders and search and seizure warrants. It builds on the Law Society’s practice note: Responding to a financial crime investigation, and provides links and citations to detailed guidance on enforcement powers under criminal law...

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Web page updated on 21/05/2026

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