Financial Regulation International
The limitations of the UK’s AML framework
Money laundering is considered to be at the heart of organised crime
1 and when used on a larger scale it can be described as a cancer that undermines the financial integrity of jurisdictions
by allowing criminals to enjoy the benefits of their illegal activities.
2 To counteract this offence the international community has enacted various standards and treaties through the United Nations,
the Financial Action Task Force (FATF) and the European Union.