The U.K. will struggle to shed its reputation as one of the world’s biggest conduits for dirty money due to a combination of patchy intelligence-sharing and poorly resourced enforcement agencies, experts told Compliance Week.
Efforts to punish corporate and individual offenders for violating anti-money laundering (AML) laws are hampered by the U.K.’s dependence on a multitude of poorly resourced, ill-equipped regulators, and enforcement bodies to bring both corporate and individual offenders to book, despite having appropriate legislation and a range of sanctions in place.
