The government has a ‘gaping black hole’ in its money laundering defences
|01/23/2018||Posted by BusinessMediaguide.Com under General World News||
- The government’s system for registering companies is a “gaping black hole” in anti money laundering defences, a senior member of the UK’s accountancy body told Business Insider.
- Companies House is exempt from the due diligence regulations that were tightened last year under the Fourth Money Laundering Directive.
- Individuals wishing to establish businesses under false pretenses or with dirty money are not subject to due diligence by Companies House, which takes information on good faith.
LONDON — The government’s system for registering new companies is a “gaping black hole” in defences against money laundering and fraud, a legal professional at the UK’s accountancy body read more >>>