Money laundering allegations

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I work as a mid-level manager in a local financial institution. Recently, I was shocked to learn that one of my colleagues has been accused of facilitating money laundering through our branch. The authorities have launched an investigation on me because I supervised some of his transactions. I have never knowingly engaged in illegal activity. My role was to review documents and approve transfers that appeared legitimate. Now, I fear that my career and reputation are at risk. Should I stay quiet and let the process unfold? I am afraid silence might be interpreted as complicity. What legal precautions should I take when facing potential allegations of money laundering? Should I hire a lawyer immediately, disclose everything I know, or wait until I am formally contacted by the authorities? Please guide me.

BL, Mwanza

Money laundering allegations are serious, and even indirect involvement can have significant consequences. Section 12 of the Anti-Money Laundering Act, Cap. 423 [R.E 2023] provides that a person commits money laundering if they knowingly, or should reasonably have known, that property comes from a criminal (predicate) offence. The most important step is to retain legal counsel immediately. A lawyer experienced in financial crimes will guide you on how to respond to investigators, ensuring that your cooperation does not inadvertently expose you to liability. Do not wait until you are formally contacted. Proactive consultation allows your lawyer to prepare documentation, review your role in the transactions, and advise you on what information to disclose.

You should also keep records of your work emails, approvals, and compliance checks that show you follow institutional procedures. This evidence can help prove you acted in good faith and within your responsibilities. Sharing information without legal advice can cause misunderstandings. With proper legal support, you can cooperate fully while safeguarding your rights and reputation. Seek advice from a lawyer for further guidance.