Money Laundering and other Economic Crime

What is Money Laundering and other Economic Crime?

“Money laundering underpins and enables most forms of organised crime, allowing crime groups to further their operations and conceal their assets. Although there are no exact figures there is a realistic possibility that the scale of money laundering impacting the UK annually is in the hundreds of billions of pounds.” NCA

Money laundering is the exchanging of money or assets that were obtained criminally, for money or other assets that are ‘clean’. 

Most high-end money laundering schemes are facilitated by the abuse of legitimate processes and services. Professionals such as accountants, legal professionals, and estate agents, can be criminally exploited or can be complicit, negligent, or even involved unwittingly. Watch this video which explains how trusted professionals can help law enforcement through due diligence and submitting a Suspicious Activity Report.

By identifying and arresting money launderers, law enforcement agencies can disrupt further criminal activity, and make the UK a difficult environment for those looking to launder criminal finances.