UK Money-Laundering Checks Inadequate: Transparency International

From the Guardian

Accountants, estate agents and art dealers who breached money-laundering rules were fined an average of just £1,134 last year, according to a report that says the UK’s anti-money laundering controls are not fit for purpose.

The report, Don’t Look, Won’t Find, by Transparency International, an anti-corruption NGO, also found that 15 of the 22 regulators it examined also lobby for the companies they oversee, creating potential conflicts of interest.

Read the full article.