Lawyers face jail over fraudster links

LAWYERS AND accountants who fail to tip off the police about clients they suspect are laundering money face up to five years in jail under government proposals an-nounced yesterday.

Suspected criminals could also have assets worth more than pounds 10,000 seized by the courts as part of sweeping changes to confiscation and money laundering laws. Police plan to use Inland Revenue files to help them to identify criminals who hide money in legitimate businesses and off-shore banks.

The initiative follows growing frustration among law enforcers that criminal "Mr Bigs" are able to live lavish lifestyles funded by drug dealing, counterfeiting and smuggling without fear of prosecution.

A Home Office working group published proposals to force all professionals, business and trades people to tell the police if they know, or suspect, that a client is engaged in money laundering.