(1)A disclosure which satisfies the following three conditions is not to be taken to breach any restriction on the disclosure of information (however imposed).
(2)The first condition is that the information or other matter disclosed came to the person making the disclosure (the discloser) in the course of his trade, profession, business or employment.
(3)The second condition is that the information or other matter—
(a)causes the discloser to know or suspect, or
(b)gives him reasonable grounds for knowing or suspecting,
that another person is engaged in money laundering.
(4)The third condition is that the disclosure is made to a constable, a customs officer or a nominated officer as soon as is practicable after the information or other matter comes to the discloser.
[F1194 (4A)Where a disclosure consists of a disclosure protected under subsection (1) and a disclosure of either or both of—
(a)the identity of the other person mentioned in subsection (3), and
(b)the whereabouts of property forming the subject-matter of the money laundering that the discloser knows or suspects, or has reasonable grounds for knowing or suspecting, that other person to be engaged in,
the disclosure of the thing mentioned in paragraph (a) or (b) (as well as the disclosure protected under subsection (1)) is not to be taken to breach any restriction on the disclosure of information (however imposed).F1194]
(5)A disclosure to a nominated officer is a disclosure which—
(a)is made to a person nominated by the discloser’s employer to receive disclosures under [F1195section 330 or F1195] this section, and
(b)F1196is made in the course of the discloser’s employment ....
491.Section 337 exempts a person who receives information in the course of his trade, profession, business or employment from any legal or other obligations that would otherwise prevent him from making disclosures to the authorities. The protection extends not just to the regulated sector which is required to make disclosures in order to avoid committing an offence under section 330, but also to those carrying out any trade, profession, business or employment, even if this is not in the regulated sector, who voluntarily make disclosures about money laundering to the police. This includes those exercising a profession in a voluntary capacity such as accountants or solicitors giving free advice. It does not, however, mean that they become subject to the failure to disclose offence at section 330. Although it should be noted that if they are a nominated officer working outside the regulated sector, they will be subject to the offence of "Failure to disclose: other nominated officers" at section 332.
492.The protection provided by section 337 is very wide, consistent with the United Kingdom’s obligations under Article 9 of the 1991 European Community Directive on prevention of the use of the financial system for the purpose of money laundering.