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Issue:
4891
/
Categories:
Comment & Analysis
, Money laundering
, nca
, POCA 2002
, Business
, Investigations
Guarding against injury
Key points
- Economic crime has a terrible impact and is prevalent in the UK comprising 40% of crime.
- The Home Office and Houses of Parliament currently have a strong focus on this area: a new fraud initiative has been launched and the Economic Crime and Corporate Transparency Bill has cross-party support in parliament.
- Money laundering is an intrinsic part of economic crime.
- As financial professionals we already have responsibilities and requirements by law. It’s important that we are all fully up to speed and act and we help raise broader awareness of the risks and requirements.
- There are clear guidelines and processes for when financial professionals have suspicions. We can seek specific legal defences to cover ourselves if needed.
On the cricket pitch a fast ball is designed to throw the batter off guard. We’re talking a cracking pace: balls can fly across at 80 to 90mph in an international...
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