Political will to tackle criminal proceeds was on prominent display last month, as the UK government held the inaugural meeting of the Global Forum on Asset Recovery and launched its Anti-Corruption Strategy. However, will this be enough to tackle the flow of criminal proceeds into the UK?
This paper focuses on the measures that can be taken at the UK level to strengthen the money service business (MSB) sector’s anti-money laundering oversight, and specifically to address the risk of criminally owned or complicit MSBs or agents operating unhindered in the UK.
This is the fifth and last in a series of five country-level papers on the role of organised crime groups in the illicit trade in tobacco, alcohol and pharmaceuticals across Europe, focusing on Italy as a case study.
The launch of RUSI’s new Centre for Financial Crime & Security Studies comes at a time when new initiatives are seeking to bridge the gulf in trust and partnership between the public and private sectors.