SUSPICION, TERRORIST FUNDING AND MONEY LAUNDERING

On 22nd August, Bright Line Law published an article saying that on 11th July, the UK Supreme Court handed down a decision in an appeal of a pre-trial ruling on the test for ‘suspicion’ in the context of terrorist financing.  The article sets out to distil the key findings from the decision and explores the implications for ‘suspicion’ in the context of the principal and secondary money laundering offences in Part 7 of the Proceeds of Crime Act 2002.  It says that the decision puts to rest any doubt that the offence of being concerned in terrorist funding is focused on an objective suspicion of terrorist financing as opposed to one subjectively held – where the information known to a person, examined objectively, gives reasonable cause to suspect that property will be used for terrorist purposes even if the person did not actually hold any such suspicion.  However, due to what it calls discernible differences between POCA and the Terrorism Act 2000, the extent to which the decision informs the interpretation of the money laundering offence provisions in Part 7 POCA is limited.

https://www.brightlinelaw.co.uk/bll-bulletin/suspicion-terrorist-funding-and-money-laundering.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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