Overhauling the UK Money Laundering SARs Regime

Make no mistake, money laundering is a major global epidemic, involving sums of money potentially in the trillions of US dollars. According to the United Nations Office on Drugs and Crime (UNODC), money laundering is estimated to range in value from 2 – 5% of global GDP, which at the higher end, equates to US$2 trillion. In the words of UNODC, “the deeper “dirty money” gets into the international banking system, the more difficult it is to identify its origin”. […]