Increased Sentences for the money Laundering, But exactly how Is It Bein

I indicate that looking beyond this may allow us to learn more about how this increasingly high-profile crime has been tackled through the authorities. And there is one statistic, that we refer to later, that's perhaps more notable than any other.

It may easily be the case, as has been reported, that money launderers are facing longer prison terms as a result of revisions to the sentencing guidelines in 2021. And the fact that the typical prison sentence for money laundering offences rose to 27 months in 2021 is particularly eye-catching when it is belief that this represents a 32% increase on the average in December 2008 – and that 27 months stands as a record high.

Under the 2002 Proceeds of Crime Act, money launderers can face up to 14 years in prison or pay an excellent. In taking into consideration the rise in the average sentence between December 2008 and 2021 it would be foolish to not attribute a number of this to the fact that the sentencing guidelines of 2021 allow prosecutors to argue for tougher prison sentences for people in prison for money laundering or bribery. Sentencing Council guidelines have become tougher since they're seeking to emphasise the injury that financial crimes dress in those who are victims of these. They intend for just about any penalty imposed to take into account distress, inconvenience or monetary loss that may have been suffered as a result of the offending.

It is not stretching a place, therefore, to argue that the guidelines have given prosecutors ample chance to aim for longer sentences for that UK's money launderers. Also it might be that, since the guidelines were introduced, judges have been prepared to accept prosecution requires harsher sentences for money launderers. That could very well be a sizable element in the rise in average sentence from 2008 to 2021.

But, when i discussed earlier, looking beyond this attention-grabbing statistic may tell us more. In fact, one related statistic that hasn't made as many headlines may by more enlightening. Average jail sentences for the money laundering have raised by 8% over the past year. Unlike the leap in sentence length that we saw from 2008-18, this cannot be taken into account by switch to sentencing guidelines which have given prosecutors the opportunity to demand lengthier sentences or judges the chance to meet that demand.

In the past year, the guidance available to judges for sentencing has been unaltered. Which means that the 8% shift upwards in average sentence length can only be related to a couple of things. The very first is the potential of a sharp rise in the sums involved when convictions are obtained. This would by default boost the average sentence length – and may arguably even indicate greater success in identifying and prosecuting money laundering. The second, however, is that the longer sentences would be the consequence of a concerted push through the judiciary to impose punishments that provide being an increasingly powerful deterrent to people who consider money laundering to become a relatively low-risk criminal enterprise.

There may well be many who have the opinion that money laundering is a risk worth taking. Maybe they feel that a few unquestioned transfers in some places for modest reward cannot really be looked at worthy of attention or even that risky. They might convince themselves that it is not as if they are committing a fraud or anything they consider to be a “serious'' crime.

The knowledge that sentences are on the increase however, and that money laundering has been viewed more severely through the courts should give them pause for thought. And if the headline-grabbing figure of the 32% increase in sentences over ten years doesn't make them think twice then the 8% increase in yesteryear year certainly should. Yesteryear year has seen sentences rise steeply. That should be an alert to anyone who still believes that money laundering isn't actually a serious crime.