Author: Syedur Rahman 27 July 2022
The law and companies’ obligations regarding money laundering are the subject of an article by Syed Rahman.
His piece, “Money Laundering: An Overview’’, is published in the latest Company Secretary’s Review.
Syed’s details the definition of money laundering in the Proceeds of Crime Act 2002 and the obligations that UK firms are under to report any suspicions of money laundering to the National Crime Agency.
He also explains how firms are obliged to appoint a nominated officer to whom staff should report their suspicions of money laundering and writes about some of the anti-money laundering activity in the European Union.
Syed concludes by emphasising that there are various types of money laundering and that an investigation can involve a number of agencies, numerous countries and touch on many other areas of law. He adds that its prevention must be considered a priority by those who have a legal obligation to do so, and that those who face money laundering allegations must respond in the most intelligent and appropriate way.
Company Secretary's Review is a monthly newsletter providing coverage of issues relating to company law, corporate governance and other legal and financial matters relating to business.
Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, international arbitration, civil recovery, cryptocurrency and high-stakes commercial disputes.