NEARLY HALF OF UK E-MONEY FIRMS RED FLAGGED FOR MONEY LAUNDERING RISK

On 14 December, OCCRP reported that research from Transparency International has found that nearly 40% of the e-payment sector in the UK, which made more than £500 billion worth of transactions in 2020/21, have been Red Flagged.  Transparency International UK examined all 261 enterprises in the country that had been granted operating permission by the FCA to operate as an EMI.

https://www.occrp.org/en/daily/15667-ti-nearly-half-of-uk-s-e-money-firms-red-flagged-for-money-laundering-risk

https://www.transparency.org.uk/together-in-electric-schemes-UK-e-payment-EMI-money-laundering-risk

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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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