Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Money laundering definition

What does Money laundering mean? money laundering is the process of concealing the proceeds of crime so they appear legitimate, including placement, layering and integration. The term is generic, but in the UK the principal offences are defined in the Proceeds of Crime Act 2002 (ss.327–329), with related reporting and tipping‑off offences and preventive duties under the Money Laundering Regulations 2017 (as amended). In Ireland, offences and compliance obligations arise under the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010–2021. Key features include dealing with “criminal property” (acquiring, using, possessing or arranging) and duties in the regulated sector—banks, solicitors, accountants, estate agents and others—to...

Overview of UK AML, CTF and counter-proliferation financing under POCA 2002, TA 2000, MLR 2017 and ECCTA 2023: definitions, stages and scope

Published by a LexisNexis Risk & Compliance expert

Practice notes

This Practice Note explains the concept of money laundering and the legal framework that regulates it. The Proceeds of Crime Act 2002 (POCA 2002), the terrorism Act 2000 (TA 2000) and the Money Laundering, Terrorist Financing and Transfer of funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended, significantly influence UK businesses. Non-compliance can bring serious criminal, administrative and, for some, professional sanctions.

Definitions of money laundering

Money laundering refers to the means by which criminal proceeds, along with their actual source and ownership, are altered so they appear lawful. Nevertheless, the statutory concepts of money laundering are much broader. Under POCA 2002, money laundering is defined to include:

hiding, obscuring, converting, transferring or taking criminal property out of the jurisdiction
entering into, or being involved in, an arrangement that enables the acquisition, retention, use or control of criminal property
acquiring, using or possessing criminal property

These are described as the principal offences and also cover conspiracy or attempts to commit any such offence. Money laundering also includes counselling, aiding, abetting or procuring. For more information, see Practice Note: Proceeds of Crime Act 2002—key information for businesses. Money laundering is further...

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Web page updated on 26/05/2026

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