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Jurisdiction(s):
United Kingdom
United Kingdom
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...
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Acquiring, using or possessing criminal property under POCA 2002 s 329 (UK): elements, mens rea, territorial scope, exemptions (adequate consideration), corporate liability, sentencing and confiscation
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Practice notes
This Practice Note addresses the offence of acquiring, using or possessing criminal property under section 329 of the Proceeds of Crime Act 2002 (POCA 2002). It is one of the principal Money laundering offences in that Act; see Practice Note: Money laundering offences under the Proceeds of Crime Act 2002—The principal money laundering offences. For guidance on the remaining principal offences, refer to Practice Notes: Money laundering offences—concealing, disguising, converting, transferring and removing and Money laundering offences—the arrangement offence...
The acquisition, use and possession of the proceeds of crime offence
The offence arises where an individual acquires, uses, or has possession of criminal property. For fuller direction on the meaning of criminal property and Criminal conduct, see Practice Note: Principal money laundering offences—Mens rea, criminal property and criminal conduct—What is criminal property...
As to mens rea, suspicion alone suffices. Dishonesty is not an element, nor must the defendant know or believe that the property is criminal property for the substantive offence. However, where the prosecution can establish no more than suspicion, that limitation affects their capacity to pursue inchoate forms of the offence...
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Web page updated on 21/05/2026
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