Could the UK’s professional firms be leaving us exposed to money laundering?

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The FT reported yesterday that:

Billions of pounds of corrupt cash are flowing through the UK’s financial sector, according to an official report that accused “known professional enablers” in the legal and property sectors of facilitating money-laundering.

In the first assessment of its type, the government branded the banking, law and accountancy industries as posing a “high risk” of money-laundering. It concluded that the size and complexity of the financial sector left it “more exposed to criminality” than in many other countries.

The professions are not happy, of course. But some of us have said this for a very long time. It's good to be confirmed to be right.