Keeping it clean
13 September 2012
The UK’s Proceeds of Crime Act targets money launderers. But, as Dick Jennings explains, it could have some unintended consequences for purchasing professionals
Money launderers are hard to catch, so governments have thrown a very wide net to catch them with – so wide as to present real dangers of catching entirely normal procurement activities too.
Those dangers have come into UK law this year through the Proceeds of Crime Act 2002, implementing the European Commission’s Second Money Laundering Directive (2001/97/EC...