MONEY LAUNDERING AND CONFISCATION – UK COURT OF APPEAL APPROVES TOUGH APPROACH TO CALCULATING BENEFIT

On 16th May, Corker Bining posted in its blog an article about a recent judgment of the Court of Appeal in R v Fulton, saying that calculating benefit is not always so simple.  It asks, what about cases where the offender conducts business that is in some respects unlawful, but in all other respects legitimate?  Or where the offender ‘obtains’ property ‘in connection with’ unlawful conduct, but does not retain it?  Mr Fulton worked as an account manager conducting foreign exchange services at a money services bureau and carried out foreign exchange transactions knowing that the funds were the proceeds of Missing-Trading Intra-community (also known as ‘MTIC’ or ‘carousel’) fraud.  The MSB processed around £29.75 million of transactions for the companies involved, of which Fulton handled around 60%.  Dismissing the appeal by Fulton, who claimed the confiscation order was disproportionate, the article says that prosecutors will be grateful that Fulton joins the body of law confirming that, whilst a confiscation order cannot be punitive, the court need not strive to be lenient nor resolve ambiguities in favour of the offender.

https://www.corkerbinning.com/money-laundering-and-confiscation-court-of-appeal-approves-tough-approach-to-calculating-benefit/

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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