The Proceeds of Crime Act does not just consider cash. It is concerned with the goods or services that are obtained through organised crime as well as any currency itself.
What is criminal property?
Criminal property is defined as any benefit including money, goods or services which somebody enjoys and which comes from an illegal source.
This applies to everyone regardless of the nature of the business in which they work.
It is also illegal to hold such criminal property for somebody else. This might, for example, lead people like accountants or solicitors to break the law if they are ‘looking after’ criminal property on behalf of a client.
The penalty for this offence can be up to 14 years’ imprisonment, a fine or both.