The Customs and Excise Division of the Treasury has today published a new Public Notice (Notice 1000 MAN) which is concerned with the use of real or bogus trade as cover for the movement or laundering of illicit funds, from a variety of frauds, generally referred to as trade-based money laundering. In recent months a […]

Advisers who “facilitate or encourage” tax evasion by companies or individuals should be prosecuted, a senior UK Treasury official has said. In an interview on the BBC’s Andrew Marr show, chief secretary to the Treasury Danny Alexander proposed a new criminal offence of “corporate failure to prevent economic crime”, aimed particularly at banks and accountancy […]

Treasury has revised its policy on certain transactions as a result of recent EU case-law. Any funds arriving in the UK, or in a UK bank anywhere in the world, which have come from, or via, any person who is the subject of sanctions, must be frozen in a suspense account, or other separate account, on […]