VIOLENT GANG SHIPPED £300 MILLION OVERSEAS USING CASH TRANSFER SHOPS IN LONDON

Baker McKenzie on 22nd May reported an Evening Standard story that a global “money laundering and terrorist finance network” that shipped £310 million of criminal profits overseas in a year using high street money transfer shops in London has been busted.  The investigation has also led to £7 million being frozen in accounts in London and another £23.6 million being seized in New York.  The case is said to highlight growing concern about the scale of dirty money being channelled in and out of the country via “money service businesses”.

http://www.riskandcompliancehub.com/uk-met-busts-violent-gang-that-shipped-300m-overseas-using-cash-transfer-shops-in-london/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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