SENIOR UK THINK TANK CALLS TO BOOST IN AML/CFT CONTROLS FOR BRITISH MONEY SERVICE BUSINESSES
January 1st, 2018
A SENIOR UK-based think tank has made detailed proposals to ensure Britain’s booming money services business (MSB) sector is better protected from abuse by money launderers and terrorist financers.
The Centre for Financial Crime and Security Studies, of the Royal United Services Institute (RUSI) highlighted National Crime Agency (NCA) claims that the 2,000 non-bank money remitters, currency exchange or cheque-cashing services registered in the UK help launder GBP1.5 billion (USD2 billion) of criminal proceeds annually. RUSI has released a paper that says the ...
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