The prosecution of lawyers for money laundering offences

Abstract

Explains why and how lawyers become involved in money laundering schemes. Describes three recent cases of UK solicitors convicted for money laundering ‐ Denis Jebb, Louis Glatt and Noel Horner ‐ and notes that US lawyers are convicted more often than in the UK; this is possibly because in the USA there are more sting operations, phone intercepts, use of accomplice evidence, and a different exercise of prosecutorial discretion. Moves on to the services that lawyers provide launderers: advice, use of client accounts, purchase or sale of property, creation of corporate vehicles and trusts, lawyer ‐ client privilege, guarantees, introductions, powers of attorney, and false legal documentation. Discusses next the low level of disclosures by solicitors in the UK of suspicious transactions; reasons may be the general culture of non‐suspicion, the duty of client confidentiality, and confusion over laundering and tax evasion. Outlines new UK money laundering offences, which are likely to lead to an increase in the numbers of solicitor prosecutions.

Citation

Bell, R.E. (2002), "The prosecution of lawyers for money laundering offences", Journal of Money Laundering Control, Vol. 6 No. 1, pp. 17-26. https://doi.org/10.1108/13685200310809374