Proceeds of Crime
(asked on 9th October 2018) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the Financial Conduct Authority has the statutory power to prosecute offences under (a) Sections 327-329 and (b) Sections 330-332 of the Proceeds of Crime Act.
This question was answered on 15th October 2018
The Financial Conduct Authority (FCA) can prosecute offences under these provisions of the Proceeds of Crime Act 2002 (POCA) where doing so is in accordance with its statutory functions and it is not expressly prohibited from doing so as a result of statutory restrictions or other conditions. It has obtained, prosecuted and secured 10 convictions against five individuals for money laundering offences under POCA.