Every solicitor handling client money or property may one day suspect that something isn't clean. POCA 2002 turns that suspicion into a set of legal duties: report what you know, sometimes wait for permission before you act, and never warn the client. Getting this right protects you from a money laundering charge; getting it wrong can be a criminal offence in itself. This lesson gives you a clear, practical map of what to do and when.
What this lesson covers:
- The Disclosure Regime and Nominated Officer — who you report to, what a SAR is, and how internal reporting discharges your duty.
- The Duty to Disclose — what level of suspicion triggers the duty, including the objective test in the regulated sector.
- The Consent (DAML) Process — the notice period, the moratorium, and exactly when you may proceed with a transaction.
- Timing of Disclosures — reporting before, during, or after the act, and why earlier is safer.
- Tipping Off — what you can and cannot say to a client without committing an offence.
- Legal Professional Privilege — when privileged information switches the duty off, and when the crime/fraud exception switches it back on.