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Britain's £100Bn-A-Year Money-Laundering Problem

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http://www.independent.co.uk/news/business/news/police-lack-resources-to-carry-out-moneylaundering-investigations-10309052.html

Britain is failing to prosecute corrupt officials and criminals laundering their money through front companies, banks and luxury houses here, because the police lack the resources and the legal processes are woefully inadequate.

That is the conclusion of a report from the biggest anti-corruption NGO, Transparency International, into why so few money-laundering investigations and asset seizures happen in the UK despite Britain’s status as one of the biggest centres in the world for the cleaning of ill-gotten gains.

TI revealed for the first time that, while banks, stockbrokers and other companies supply law enforcement agencies with 14,000 tip-offs each year about their customers, last year the police acted forcefully on only seven of these “suspicious activity reports”. Nick Maxwell, head of research at TI, said: “The law enforcement approach in the UK is simply not fit for purpose.”

If we tackle the problem the money will disappear somewhere else for someone else to profit from. Just think what that will do to GDP figures!!!

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The thing is, the US, rightly or wrongly (and I think wrongly in some cases - Trader Sarau) is throwing its weight behind hunting out dodgy behavior (as the US sees) by individuals, companies and countries esp. when there are Americans or dollar transaction involved.

Could the DOJ crash London?

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The thing is, the US, rightly or wrongly (and I think wrongly in some cases - Trader Sarau) is throwing its weight behind hunting out dodgy behavior (as the US sees) by individuals, companies and countries esp. when there are Americans or dollar transaction involved.

Very wrongly. We have Parliament and we have a defence budget for the whole purpose of being in control of our own laws.

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