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Sophie Green, a solicitor, acts for an offshore investment vehicle in a property transaction. She has been unable to identify the beneficial owner and suspects money laundering. Sophie makes a disclosure to her MLRO. Her friend, Jack, at another UK law firm provides tax advice to the same client.
How should Sophie proceed?
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Section 333C of the Proceeds of Crime Act 2002 (POCA) allows disclosures to fellow legal advisers under certain circumstances without committing a tipping off offence. Sophie can inform Jack that she has concerns and has made a disclosure, as this communication is protected under POCA when both parties are engaged in providing legal services related to the same client and transaction.
Key Point: This question tests the understanding of the tipping off provisions under POCA and the exceptions that allow communication between legal advisers. It is essential for solicitors to know how to navigate confidentiality and disclosure requirements while maintaining compliance with anti-money laundering laws.
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