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Money Laundering Investigation Unit (MLIU)

The City of London is a key Global Financial Centre, processing trillions of pounds of financial transactions, on a daily basis. It is reported that money launderers look to the UK, attempting to launder their criminal gains, as the UK is considered to be financially stable, unlike some third world and developing countries.

Under the Proceeds of Crime Act, regulated authorities have a legal obligation to report suspicious transactions, and put adequate Anti Money Laundering processes in place, and to ensure compliance to such processes are monitored. Compliance is required in order to ensure market confidence, securing appropriate protection for consumers, fighting financial crime, and protect and enhance the stability of the UK financial system.

The MLIU sits within the Financial Investigation Unit (FIU). Within the FIU is a team responsible for analysing intelligence, proactively targeting organised crime groups, and individuals concerned in money laundering activity.

If convicted of money laundering within the UK, the maximum custodial sentence is 14 Years.

Within any given investigation, the CoLP MLIU will endeavour to identify any such proceeds of crime, and arrange for them to be restrained via the FIU. If victims of the assets gained can be identified, the assets will be realised to compensate victims.

By stripping criminals of their assets, dismantles their ability to commit further criminal activity.

The Proceeds of Crime Act legislation, primarily utilised by the MLIU and FIU, is a powerful tool to remove the benefit from crime. Under this legislation, a Home Office, Asset Recovery Incentive Scheme (IRIS) allows law enforcement to receive funds taken from criminal finance and Money Launderers to invest in prevention initiatives.

Under this scheme the MLIU has recently been successful in forfeiting the sum of £3.2M, of which the CoLP benefited by £1.6M. These monies have been utilised to support the community, by way of employing additional PCSO’s. In addition, the funds have been utilised to assist in the funding of a National Lead Force investigation, Operation Rico, tackling boiler room fraud, and to further enhance our Proactive Investigation capability. ​



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