Regulatory and Compliance Training & Consultancy

Money Laundering

The term money laundering was first coined by the Guardian paper during the Watergate scandal. It was used to describe how illegal campaign contributions paid to Richard Nixon's committee to re-elect the President were moved to Mexico, then brought back to the USA through a company in Miami.

It is the process whereby assets obtained from criminal activities pass through a series of complex networks of transactions that obscure the link between the original activity and the end of the laundering cycle. The items are eventually returned to the legitimate economy for later extraction.

Our Anti Money Laundering training courses will give your staff the best introduction to the legislation and more importantly will cover the practical steps that need to be taken to ensure compliance.

Countries have attempted to combat the process in many ways. The UK legislation creates a money laundering offence where a person enters into, or becomes concerned in, an arrangement which facilitates (by whatever means) the acquisition, retention, use, or control of criminal property by another person. This has impacted upon lawyers and other professional advisers in the UK who act for a client whom they suspect may possess criminal property of any kind. In the UK “money laundering” need not involve money (it relates to assets of any kind, both tangible and intangible, and to the avoidance of a liability) and need not involve laundering either (a thief's possession of the assets he himself stole is included).

The UK regulations are far reaching, complex and easy to fall foul of without professional advice. This shows the need to be properly trained about the extent of the requirements. Click here to book on our Antil Money Laundering training courses.