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:
Spotlight on Corruption is delighted to have been granted permission to intervene in a landmark Court of Appeal case which has significant implications for the UK’s anti-money laundering regime. In...
The Economic Crime and Corporate Transparency Bill (ECCTB) contains some new provisions (including government amendments brought forward in the Commons) to ensure legal sector regulators play a robust role in...
In the dying days of 2022, HM Treasury released two years of covid-backlogged data on Anti-Money Laundering (AML) supervision in the UK. This 2020-2022 report yields no clear picture of...
From setting up complex company structures for clients to helping purchase luxury real estate and negotiate mortgages, lawyers play a critical role in facilitating and legitimising money flows. Their role...
Law firms in the UK face almost zero risk of criminal enforcement if they breach money laundering rules, and very little prospect of meaningful fines, according to a report released...
HMRC’s latest annual self-assessment report of its performance reveals seven problem areas that are undermining its effectiveness as an anti-money laundering (AML) supervisor.
The 2021 review of how the UK’s 22 different legal and accountancy supervisors (known as Professional Body Supervisors or PBS), are performing in terms of combating dirty money was released...
