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While drug trafficking is commonly associated with violent crimes (such as firearm offences), financial crimes also play a crucial part in the drug trafficking process. To conceal any illegal activities from authorities, drug traffickers will use the process of money laundering to convert funds raised from criminal activities into revenue that comes from a perceived legal source. 

Whether you have been accused of laundering money that originated from drug trafficking, or have been charged with failure to report suspected money laundering activities, you should instruct the help and expertise of a specialist criminal defence lawyer right away. Get in touch today

What are the signs of drug trafficking through money laundering?

First of all, drug traffickers will initiate 'placement', which involves placing the drug money into various financial institutions. This process generally includes opening several bank accounts (often in different names), and storing varying amounts of money in these accounts. 

The second stage involves 'layering' to create distance between the person who originally placed the funds and the people who are going to be involved in the next stage of withdrawing. The money in the banking accounts is withdrawn and converted into other currencies, paid to other people and moved around until its true source is difficult to trace. 

Finally, in the third stage, the money is 'integrated' back into society and used for legitimate purposes such as purchasing high value property, stocks, bonds, tourism, and so on. A high amount of financial activity between accounts is therefore a major sign of money laundering that could be linked to drug crime.

Illicit drug sales and money laundering

When drug money has been raised, a method known as 'structuring' is used to break down the large volumes of cash that have been acquired into small manageable sums. Other laundering methods involve wire transfers into different currencies, the purchase of gems and other precious items or jewellery, or simply smuggling vast amounts of cash out of a country.

What constitutes a predicate offence?

A predicate offence in the context of money laundering occurs when those who commit crimes, such as drug trafficking, then launder the monies linked to those crimes. A predicate offence is therefore an offence that often comes before (and then enables) a crime that is greater in severity or that generates large amounts of money (in this case, laundering potentially millions of pounds in drug funds). 

The 6AMLD has identified 22 predicate offences that cover cyber crime, financial and tax crime, terrorism and fraud. These predicate offences are listed below:

  • Racketeering or being involved in organised crime
  • Smuggling or human trafficking
  • Sexual exploitation
  • Drug/illegal substance trafficking
  • Arms trafficking
  • Trafficking other stolen goods
  • Corruption
  • Fraud and counterfeit currency
  • Counterfeiting goods
  • Grievous bodily harm (GBH) and murder
  • Fraud 
  • Environmental crime
  • Kidnapping/hostage taking
  • Theft and robbery
  • Smuggling
  • Tax crime
  • Extortion
  • Forging documents
  • Piracy
  • Market manipulation (stock trading)
  • Terrorism
  • Cyber crime

Can I be charged if part or all of the crime occurred overseas? 

A person can still be prosecuted for money laundering offences under the Proceeds of Crime Act 2002 (POCA), even if the money laundering activity occurred outside of the UK, so long as a part of the criminal act or scheme to launder money had both harmful consequences on the UK economy and took part in the UK. If prosecuted, all criminal conduct will be examined during a trial, which includes overseas activity that would have been considered an offence had it occurred in the UK.    

Authorities worldwide are cracking down on suspected money laundering behaviours and are doing everything in their power to prosecute where they can. If you have been charged or accused of money laundering linked to drug trafficking, it is crucial that you have the right legal representation by your side who can fight your case. 

Contact our Financial Crime Solicitors in Central London Today

At Lewis Nedas Law, our solicitors are highly knowledgeable in financial law and have successfully defended many types of cases involving allegations of money laundering, failure of compliance checks and so on. We will do all we can to protect your reputation, remaining discreet while offering you advice and support at every stage of the investigative process. Get in touch with our experienced financial crime solicitors by contacting us on 020 7387 2032 for 24/7 legal support, or fill in our online enquiry form

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