{"id":119,"date":"2008-03-03T15:46:56","date_gmt":"2008-03-03T15:46:56","guid":{"rendered":"http:\/\/www2.moneylaunderingcompliance.com\/?p=119"},"modified":"2009-02-03T15:47:13","modified_gmt":"2009-02-03T15:47:13","slug":"q-what-is-the-proceeds-of-crime-act-2002","status":"publish","type":"post","link":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/general-information\/q-what-is-the-proceeds-of-crime-act-2002","title":{"rendered":"Q. What is the Proceeds of Crime Act 2002?"},"content":{"rendered":"<p><strong>POCA is the UK&#8217;s primary money laundering legislation.<\/strong>\u00a0<\/p>\n<p>Chapter 7 sets aout the predicate offences of money laundering applicable to all,\u00a0S327 Conceals, S328 Arrangement and S329 and Aquires.<\/p>\n<p>Chapter 7 is also\u00a0the area that concerns the professional in the regulated sector. It places a\u00a0responsability on all employees in the regulated sector to report suspicious activity when they have &#8220;reasonable grounds to suspect&#8221; that money laundering is taking place. The responsability for compliance is placed upon the\u00a0individual, not a firm. S330 is the offence of\u00a0failing to report.\u00a0<\/p>\n<p>There is no de-minimus limit on the perceived value of the crime to be reported. A \u00a310 proceed is to be treated the same as a \u00a310,000 proceeed. Tax evasion is given no special status as a crime and is to be treated the same as any other type of crime.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>POCA is the UK&#8217;s primary money laundering legislation. <\/p>\n<p>Chapter 7 sets aout the predicate offences of money laundering applicable to all, S327 Conceals, S328 Arrangement and S329 and Aquires.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[11,24],"class_list":["post-119","post","type-post","status-publish","format-standard","hentry","category-general-information","tag-money-laundering-regulations","tag-poca"],"_links":{"self":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts\/119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/comments?post=119"}],"version-history":[{"count":2,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts\/119\/revisions"}],"predecessor-version":[{"id":121,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts\/119\/revisions\/121"}],"wp:attachment":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/media?parent=119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/categories?post=119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/tags?post=119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}