Anti Money Laundering

The cleaning of money gained by the undertaking of criminal activity is big business. It’s estimated that globally 2.7% of GDP or $1.6 trillion is laundered per year. In the UK, a National Crime Agency report using Home Office figures stated that in 2014 there were 300,00 reports of suspicious activity in the UK and estimated that £100bn of foreign money is cleaned in the UK.

It’s generally accepted that the UK’s procedures for dealing with money laundering are inadequate. The FCA has come down hard in recent years on businesses for failure to spot money laundering activity or not having sufficient processes in place. Some of the fines handed out include:

2015 – Bank of Beirut (UK) Ltd – £2.1m

2015 – Barclays – £72m

2016 – Ulster Bank – £2.98m

2016 – Sonali Bank – £3.25m

Our Anti-Money Laundering service has been developed in partnership with the GB Group, acknowledged market leaders in this sector. A team of field experts in professional services, including Begbies Traynor as well as the GB Group, were involved in its creation and this allows us to offer a service with unparalleled benefits for our clients.

Our Anti-Money Laundering service will:

  • Reduce the costs of identity verification
  • Effectively combat financial fraud
  • Cut the administrative and operational costs of running your business
  • Deliver unbeatable match rates
  • Fast first-time passing

You can download some information about our AML solution here. If you want to find out more about our Anti-Money Laundering Service, please contact us directly on: or by telephone on 0344 412 6699.