‘To prosecute or not to prosecute … that is the question’

Email: nicholas.ryder@uwe.ac.uk

Abstract

The aim of this note is to highlight the importance of the enforcement powers of the Financial Services Authority (FSA) under the Financial Services and Markets Act 2000 (FSMA 2000) in relation to the prevention of money laundering. The article begins by defining money laundering, outlining its extent, identifying the three stages involved and commenting upon the inherent links between the financial services sector and money laundering. The next part of the note identifies the enforcement powers utilised by the FSA to impose financial sanctions on firms who breach their anti-money laundering obligations. The final part of this review comments on the importance decision of the Court of Appeal in relation to the ability of the FSA to prosecute for certain money laundering offences.