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:
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...
6th July 2021 Some initial thoughts from Susan Hawley, Executive Director of Spotlight on Corruption From the reaction on social media, yesterday’s National Crime Agency (NCA) settlement with Izzat Javadovaand...
The National Crime Agency successfully saw off an appeal against new anti-money laundering powers created in 2017, the Account Freezing Order, used in the Moldovan ‘theft of the century’ case.
