UK money laundering fines fall from last year’s record high


April 11 2018

The number of UK professionals fined for money laundering fell last year by 20 per cent from a record high in 2015-16.

According to data included in a new report by HM Treasury the number of professionals, including accountants and lawyers, fined for money laundering in 2016-17 fell 20 per cent to 935 from a record high of 1,170 in 2015-16.

The scale of the UK’s problem with money laundering is indicated by the report which said that in 2015 the UK accounted for 40 per cent of the legal and accountancy “red flags” in Europe.