# Proceeds of Crime Act 2002, Section 366: Offences


(1) A financial institution commits an offence if without reasonable excuse it fails to comply with a requirement imposed on it under a customer information order.
(2) A financial institution guilty of an offence under subsection (1) is liable on summary conviction to a fine not exceeding level 5 on the standard scale.
(3) A financial institution commits an offence if, in purported compliance with a customer information order, it—
(a) makes a statement which it knows to be false or misleading in a material particular, or
(b) recklessly makes a statement which is false or misleading in a material particular.
(4) A financial institution guilty of an offence under subsection (3) is liable—
(a) on summary conviction, to a fine not exceeding the statutory maximum, or
(b) on conviction on indictment, to a fine.

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Source: https://www.legislation.gov.uk/ukpga/2002/29/section/366 (the official version)
Page: https://openlegislation.uk/proceeds-of-crime-act-2002/section-366
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.