Caroline Mair

‘All mouth and no trousers’? The new focus on the fight against economic crime, illicit finance and serious and organised crime in the Integrated Review

  1. In its first review of the UK’s security capabilities both at home and abroad since 2015, the Government in its ‘Integrated Review’ (IR) sets out its policy agenda in respect of security, defence and foreign policy for the next four years to 2025. Significantly, we see for the first time in such a review, that the fight against “economic crime” (as well as the inextricably linked issues of “illicit finance” and “serious and organised crime”) is identified as one of the government’s top “priority actions”, recognising that such issues pose a real national security threat to the UK, given the fact they are not confined to the UK’s borders but can arise from any bad actor worldwide and particularly so given the continued rise of cybercrime.
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The “Troika Laundromat Fraud”: Exposing the weaknesses in UK’s Anti-Money Laundering regime

The so-called “Troika Laundromat” fraud, uncovered after one of the largest banking information leaks ever, highlights the ever-growing importance for those within the regulated sector to implement robust customer due diligence (“CDD”) policies which are tailored to the specific money laundering risks posed by their customers.

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