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UK money laundering fines fall 20%

12-04-2018

A new report by HM Treasury reveals that the number of professionals, including accountants and lawyers, fined for money laundering in 2016-17, fell 20% to 935 - from a record high of 1,170 in 2015-16. The accountancy sector saw 23 accountants expelled for money laundering breaches in 2016-17. According to the National Crime Agency at least £90bn in criminal proceeds is believed to be laundered each year in the UK.

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