Which action should be taken if money laundering is suspected?

When money laundering is suspected, the best course of action is to report the suspicion to the national crime agency. This action aligns with the legal obligations of professionals in various fields, especially those in finance and law, to prevent and combat money laundering. Reporting to the national crime agency allows the appropriate authorities to investigate the matter further without alerting the individuals involved, which could potentially lead to the destruction of evidence or further illicit activity.

Ignoring the transactions would be a violation of legal and ethical responsibilities, as it would allow potential illegal activities to continue unchecked. Advising the client directly could compromise the investigation, as it might tip off the client, thereby undermining the efforts to address the situation appropriately. Consulting the client’s financial advisor may not be effective or appropriate, as it may involve disclosing sensitive information without the necessary authority or may not fulfill the required reporting obligations under anti-money laundering laws. Thus, reporting to the national crime agency is the most responsible and legally compliant action to take in such a scenario.