In a victory for the Evening Standard, the anonymity order protecting a London couple accused in a secret justice case of using the “Azerbaijan laundromat” to bring £14 million of dirty money into Britain has finally been lifted to allow the couple to be named. Read the article here.
Increased focus has been on the role of 'professional enablers' particularly, in light of the Panama Papers, Paradise Papers, and FinCEN Files. It is important when conducting customer due diligence to identify the source of funds/source of wealth. When investigating financial crime, it is crucial to monitor the transactions and follow the money to find the true source. Read our article for more information on financial crime.
Please note this article was written by Annette Fong, who is no longer with Ince. If you would like any advice in this regard, please contact Colette Kelly or Julie Dao.
The National Crime Agency has told Westminster Magistrates court that it believes the true source was corruption and that any genuine income did not match the large sums sent to London.