Six ways to prevent money laundering


August 30, 2016

Aziz Rahman, Senior Partner at serious and corporate crime defence specialists Rahman Ravelli, has urged accountants, auditors and IFAs to treat the EU’s ongoing drive to eradicate money laundering and terrorism financing as a “wake-up call”.

The European Commission unveiled an Action Plan earlier this year, which followed on from the adoption of the Fourth Anti-Money Laundering Package in 2015. Both are clear indications that the authorities are desperate to prevent unlawful money from being hidden within businesses.

With the maximum penalty for money laundering set at 14 years, Mr Rahman warned that finance specialists simply must know how to prevent this kind of wrongdoing.