The UK, as a major financial centre, and its Overseas Territories and Crown Dependencies, have long been attractive destinations for laundering dirty money. While there is no official figure for how much money is laundered through the UK, the National Crime Agency found that there was a “realistic possibility that the scale of money laundering impacting the UK is in the hundreds of billions of pounds annually”.
We track whether the UK’s laws designed to deter the laundering of corrupt money and confiscate the proceeds of corruption are working. We focus on:
The UK is not effectively supervising the legal and accountancy professions for money laundering risks, according to the latest assessment of the 22 supervisory authorities responsible for overseeing the sectors. AML supervisory reform
Summary The Solicitors Regulation Authority (SRA) – which polices anti-money laundering (AML) compliance in solicitors firms – has recently made welcome strides in taking enforcement action against money laundering breaches....
In a landmark decision handed down today, the Court of Appeal overturned a 2023 High Court decision which had seriously undermined the UK’s framework for investigating and recovering the proceeds...
This submission answers a number of specific questions presented in HM Treasury's consultation on the Money Laundering Regulations which ran from 11 March 2024 to 9 June 2024.
Spotlight on Corruption is intervening in support of a crucial appeal brought by the World Uyghur Congress (WUC), supported by the Global Legal Action Network (GLAN). In 2021, the WUC...
Over the summer the government consulted on whether major reform was needed to the UK’s regime for supervising money laundering. On the table were some admirably ambitious proposals, including having...
Spotlight on Corruption’s submission to HM Treasury’s consultation: “Reform of the Anti-Money Laundering and Counter-Terrorism Financing Supervisory Regime”
The government on Monday resisted key amendments to the Economic Crime and Corporate Transparency Bill despite strong cross-party support including from prominent and well-respected former Conservative law officers. These amendments...
