NCA HEAD WARNS SOLICITORS OF DIRTY CHINESE MONEY

The Law Society Gazette on 26th November reported that Simon Lord had warned that solicitors acting for Chinese individuals in asset purchases should be aware that their clients are almost certainly breaching domestic law – probably by laundering the proceeds of crime in the UK; and that Chinese underground banking is ‘the most prevalent money laundering threat faced across the Western world’. Chinese law strictly controls the purposes for which citizens can obtain foreign currency and limits any individual to $50,000 in a year.

https://www.lawgazette.co.uk/law/fraudbuster-warns-solicitors-of-dirty-chinese-money/5102298.article

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s