How is the offence of money laundering committed?
Money laundering offences have similar characteristics globally. There are two key elements to a money laundering offence: 1.The necessary act of laundering itself i.e. the provision of financial services; and 2.A requisite degree of knowledge or suspicion (either subjective or objective) relating to the source of the funds or the conduct of a client. The act of laundering is committed in circumstances where a person is engaged in an arrangement (i.e. by providing a service or product) and that arrangement involves the proceeds of crime. These arrangements include a wide variety of business relationships e.g. banking, fiduciary and investment management. The requisite degree of knowledge or suspicion will depend upon the specific offence but will usually be present where the person providing the arrangement, service or product knows, suspects or has reasonable grounds to suspect that the property involved in the arrangement represents the proceeds of crime. In some cases the offence ma
