330 Failure to disclose: regulated sector
Proceeds of Crime Act 2002 (2002 c 29) | Legislation

330  Failure to disclose: regulated sector

(1)     A person commits an offence if [the conditions in subsections (2) to (4) are satisfied].

(2)     The first condition is that he—

(a)     knows or suspects, or

(b)     has reasonable grounds for knowing or suspecting,

that another person is engaged in money laundering.

(3)     The second condition is that the information or other matter—

(a)     on which his knowledge or suspicion is based, or

(b)     which gives reasonable grounds for such knowledge or suspicion,

came to him in the course of a business in the regulated sector.

[(3A)     The third condition is—

(a)     that he can identify the other person mentioned in subsection (2) or the whereabouts of any of the laundered property, or

(b)     that he believes, or it is reasonable to expect him to believe, that the information or other matter mentioned in subsection (3) will or may assist in identifying that other person or the whereabouts of any of the laundered property.

(4)     The fourth condition is that he does not make the required disclosure to—

(a)     a nominated officer, or

(b)     a person authorised for the purposes of this Part by [the Director General of the National

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