Am I able to avoid all liability if I obtain consent from the Serious Organised Crime Agency (SOCA)?
Not necessarily. POCA aims to deprive wrongdoers of the benefits of crime, not compensate the victims. The civil law provides an opportunity for victims to take action against wrongdoers, and those who have assisted them, through a claim for constructive trusteeship. Victims often target the professional adviser in civil claims because they are more likely to be able to pay compensation, often by reason of their professional indemnity cover. There is a risk of making a defensive disclosure to SOCA. Consent from SOCA only protects you from falling foul of the anti-money laundering regime. It will not defend you from civil liability or committing the predicate offence. In fact, obtaining consent may create the very evidence on which a claimant can rely to found a civil liability. It is therefore vital that you disclose to SOCA only those situations fulfilling the statutory tests in part 7 of the Proceeds of Crime Act 2002; knowledge or suspicion of money laundering, or reasonable grounds
Related Questions
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