Insolvency Practioners Failing To Report Money Laundering & Fraud

Currently waiting for a response from Insolvency Service, they should respond promptly and normally no later than (details).

Colin Alvin Rimmer

Dear Insolvency Service,

Is it a criminal offence under insolvency law, The Money Laundering Act, The Fraud Act 2006 or the Proceeds of Crime Act for an insolvency practitioner to fail to undertake their reporting obligations to report money laundering and / or fraud when cognisant that it has taken place?

Unfortunately I believe that "Failure to report" is an all too frequent occurrence.

Irrespective of whether "Failure to report" fraud or money laundering is a criminal offence, please provide references to particular sections of the acts of law mentioned that would be known to have been breached in a "Failure to report" situation.

Also, if you are aware of any comprehensive Government or external public information guides to insolvency practitioner obligations in a liquidation and / administration situation, then the relevant links would be most appreciated. With many companies going into administration following the pandemic, it would be most helpful to the public to have a single point of reference with no need to have to read the legislation in the acts of law themselves.

Yours Faithfully,

Colin Alvin Rimmer

FOI, Insolvency Service

Good afternoon

The FOI team acknowledge your Freedom of Information Request and I have assigned it the reference FOI21/22-113.

I will reply to you by 17 December in line with our 20 working day statutory guidelines

Regards

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