Money laundering is a dirty business.
Criminals employ a range of techniques to clean their “dirty money”. Professionals working in the accountancy, legal and property sectors are being targeted because of their expert skills and services (National Risk Assessment 2017), which can give a cloak of legitimacy to illicit cash. This gives professionals a crucial role to play in protecting the UK’s economy, and wider society by reporting suspicious activity.
While money laundering isn’t always obvious, the consequences are severe. Even accidental involvement in money laundering could mean losing your licence, receiving a fine, or facing criminal prosecution. To tackle this threat, the UK Government is working with the accountancy, legal and property sectors through Flag It Up, to promote best practice in anti-money laundering compliance and reporting suspicious activity.