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Under the Proceeds of Crime Act, three offences are identified in connection with the crime of money laundering. Which of the following is not an offence under the Act?
– Failure to report
– Layering
– Laundering
– Tipping offI have selected Laundering but got it wrong. Layering was the right answer as per OpenTuition. Please help me out for this.
DillinThe tipping off and failure to report are clearly mentioned. Layering ,though it can be part of process of money laundering, probably isn’t specifically mentioned as an offence as part of Act. Money laundering is specifically mentioned and widely defined as part of this Act. Hope this helps.
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