Money laundering and terrorist financing The Proceeds of Crime Act 2002 requires you to submit a Suspicious Activity Report to the National Crime Agency if you know or suspect that a person is engaged in, or attempting, money laundering. The Money Laundering Regulations 2007 apply to banks, building societies, credit unions. They also apply to […]

Transparency International UK has published a report entitled “Don’t’ Look, Won’t Find Weaknesses in the Supervision of the UK’s Anti-Money Laundering Rules” which concludes that the UK’s anti-money laundering (AML) system requires a radical overhaul to prevent corrupt money from entering the UK. Overall, the report identifies that the current supervisory system is not fit […]

Public Wi-Fi access is a ubiquitous part of networked life in the modern internet. Wi-Fi hotspots provide fast and convenient internet access for the general public at locations such as coffee shops, libraries and community centres, transportation hubs, and private commercial/social spaces. However public Wi-Fi also provides cyber criminals with a number of convenient attack […]

Britain’s “woefully inadequate” anti-money laundering system has left the country wide open to corrupt money and terrorism funds and needs radical overhaul, a leading anti-corruption group said on Monday. Each year billions of pounds of dirty money flow through Britain, but the system for identifying it is too fragmented and unaccountable to be effective, according […]

The UK financial system is at high risk of being used to launder billions of pounds of corrupt cash through “known professional enablers” in the legal and property professions, according to a new report. The national risk assessment of money laundering and terrorist financing warned that the country’s banking, accountancy and legal services sectors were […]

The U.K. government will conclude it needs to do more to tackle “high-end” economic crime in its first-ever National Risk Assessment of Money Laundering and Terrorist Financing, according to one of the state’s top legal advisers. The long-awaited report, which is due to be published “soon,” will say that more needs to be done against […]

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 […]

David Cameron will promise to act against corrupt foreigners who buy up luxury properties in the UK using secretive holding companies to hide their “dirty money”. The prime minister will use a visit to Singapore to make an anti-corruption speech on Tuesday in which he will express concern that some properties, mainly in London, “are […]