If you read the UK news about the first ever "Tipping Off" conviction of a solicitor for letting a client know that he was under law enforcement investigation for money laundering, you know that this is a giant step forward towards holding british lawyers accountable for facilitating money laundering, within the United Kingdom, which is a major problem that to date have been without a proper solution. The fact that many lawyers have been acting with impunity, regarding financial crime, and improperly hiding behind attorney-client privilege, is one of the reasons a major AML firm in cardiff recently said six per cent of all funds flowing into the UK represent laundered criminal proceeds. You may feel that figure is excessive; what if it's accurate.
We note that the client is an expat, living, of course, in Malta. Where else could he openly ply overt illicit activity. He has been linked to arms trafficking into Africa, as well as Grey-market mineral harvesting, and is associated with a number of unsavoury characters whose criminal exploits appear on the Internet, so the lawyer, who is also the Money Laundering Reporting Officer, or MLRO, cannot say he was not aware of his client's choice of business associates. Or is he guilty of Willful Blindness, perhaps? He did assist his client to move four million Pounds into a UK real estate investment.
While we are at it, perhaps UK investigators looking at lawyers who kiss and tell might wish to see just how many British law firms who advertise "offshore" have expat British clients who reside in the Republic of Malta. We wonder how many have quickly changed their travel plans for a London Holiday, when advised not to come home under any circumstances. Is Tipping Off a growing professional activity?
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