Why the Proceeds of Crime Act (PoCA) Must Change

The Problem: PoCA is Stifling a Legitimate Industry

The Proceeds of Crime Act 2002 (PoCA) was originally designed to target criminal activity, ensuring that those profiting from illegal enterprises could not launder or benefit from their earnings. However, in practice, PoCA is harming legally compliant businesses in the UK’s industrial hemp, CBD, and medicinal cannabis sectors.

Despite being legally permitted under UK law, these businesses face bank account closures, funding restrictions, and asset seizures because PoCA treats them as if they are engaged in illegal drug activities. This creates unnecessary financial and legal barriers, preventing the industry from growing and depriving the UK of billions in potential economic benefits.

Why This Matters: The Economic and Social Impact

Changing PoCA isn’t just about fairness—it’s about unlocking economic growth, creating jobs, and ensuring that the UK remains competitive in a booming global industry.

Here’s what’s at stake:

• £3.5 billion in potential tax revenue could be generated annually by a properly regulated cannabis sector.
• 96,000 new jobs could be created across farming, manufacturing, retail, and research.
• £1 billion in law enforcement costs could be saved by reducing unnecessary investigations into compliant businesses.
• Investment and banking services would become accessible to legal cannabis businesses, allowing them to scale and compete internationally.
• Patients who rely on medicinal cannabis would benefit from a more stable and accessible market, rather than facing supply chain disruptions due to financial hurdles.

How PoCA Needs to Change

To ensure a thriving and legally secure industry, the government must amend PoCA by:

1. Exempting legally compliant businesses from PoCA restrictions, ensuring they are not treated as criminal enterprises.
2. Updating financial crime and anti-money laundering (AML) regulations to allow banks and investors to work with hemp, CBD, and medicinal cannabis businesses without legal risk.
3. Removing industrial hemp from the controlled substances list to facilitate domestic cultivation and business growth.
4. Creating a ‘low-THC’ category under the Misuse of Drugs Act to allow better regulation of non-intoxicating cannabis products.
5. Establishing a Cannabis Office to oversee regulation, licensing, and financial compliance, ensuring a clear framework for businesses and investors.

Take Action: Sign the Petition to Demand Change

The UK government must act now to reform PoCA and support one of the fastest-growing industries in the world. By signing the petition, you are calling for a fair legal and financial framework that allows industrial hemp, CBD, and medicinal cannabis businesses to operate without unnecessary restrictions.

✍️ Sign the petition here: Government Petition

Together, we can push for a regulated, thriving, and economically beneficial cannabis industry that supports businesses, creates jobs, and ensures patient access to essential products.