On 22nd August, the Room 151 blog carried a post saying that the Chartered Institute of Public Finance and Accountancy (CIPFA) has urged councils to ensure that they have the right procedures in place to protect against sophisticated financial crime. It is reported that in 2013 an estimated £2.1 billion of financial crime was perpetrated against local government in the UK. Councils have been updating their procedures to ensure they are protected and are highlighting the risk to officers of unwittingly enabling cash to be legitimised. It is said that critical issues can be signing rent contracts on housing properties where the landlord is running a front company to launder drug money. CIPFA urged councils to be proactive and not presume money laundering is not an issue for local government.
https://www.room151.co.uk/151-news/councils-urged-to-protect-themselves-against-money-laundering/
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