Game plan for the UK

The UK plays a high-profile role in international initiatives to fight money laundering and terrorist financing; its record on combating corruption is woeful by comparison, a dichotomy which prompts the question, is UK AML more polemical than effective when it comes to tackling corruption? Transparency International-UK decided to find out. Their conclusions - set out here by Chandrashekhar Krishnan, Executive Director, TI-UK – show that there is a very long way to go.

Chandrashekhar Krishnan may be contacted on +44 020 7785 6357/6356, chandrashekhar.krishnan@transparency.org.uk

As a global non-governmental coalition against corruption, Transparency International (TI) is deeply concerned with preventing money laundering since the facility to launder the proceeds of corruption gives rise to the commission of bribery and corruption offences in the first place. TI helped international banks to establish the Wolfsberg Anti-Money Laundering (AML) Principles in 2000. Reports by Transparency International-UK (TIUK) in 2003 and 2004 focused on corruption and money laundering in the UK and the regulation of trust and company service providers (TCSPs), respectively. [1]