Section 328(8)

A person (“P”) who does an act mentioned in subsection (1) does not commit an offence under that subsection if— P is carrying on business in the regulated sector, P does the act in the course of that business, on behalf of a customer or client, in operating an account or accounts maintained with P or in connection with holding any property for the customer or client, at the time of the act, P knows or suspects that part but not all of the funds in the account or accounts, or of the property so held, is criminal property (“the relevant criminal property”), it is not possible, at the time the act takes place, to identify the part of the funds or property that is the relevant criminal property, and the value of the funds in the account or accounts, or of the property so held, is not, as a direct or indirect result of the act, less than the value of the relevant criminal property at the time of the act.

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Source: legislation.gov.uk · retrieved 2026-09-04