11/06/2025
Money laundering regulations are intricate, and even well-intentioned professionals can find themselves at risk of breaching the law. Those working within the regulated sector including solicitors, accountants, estate agents, and other advisers are under a legal obligation to report any transaction they know, suspect, or should reasonably suspect involves criminal property. Failure to do so is a serious criminal offence that carries a potential sentence of up to five years’ imprisonment, regardless of whether the individual was directly involved in the laundering activity.
At Mandla Bhomra, we regularly advise individuals and professional practices on how to remain compliant while safeguarding their reputations. Our financial crime solicitors offer practical and strategic support to those facing uncertainty from determining whether a Suspicious Activity Report (SAR) should be submitted to the National Crime Agency, to providing advice where legal professional privilege may apply.
This area of law has grown increasingly complex and active since the introduction of the Proceeds of Crime Act 2002, which marked a significant shift in enforcement. Today, prosecutors are not always required to prove the nature of the underlying criminal conduct, they can rely on circumstantial evidence surrounding the funds or transactions in question.
Whether you need one-off guidance or ongoing compliance support, our financial crime team is here to help you navigate this ever-evolving landscape with confidence.
