HMRC Fails To Crack Down On Illicit Funds, Law Firm Says

Law360, London (April 9, 2019, 12:20 PM BST) -- Britain’s tax authority could be failing to crack down on businesses that are breaching the country’s anti-money laundering rules, a freedom of information request by a law firm has suggested.

HM Revenue and Customs conducted fewer than than 55 investigations for breaches of the U.K.’s money laundering regulations between 2012 and 2018, Fieldfisher LLP said on Monday. Fewer than 25 of these probes led to prosecutions being brought, according to a freedom of information request made by the law firm.

"It is hard to believe” that so few businesses from the thousands supervised by HMRC have breached rules on dirty cash,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!