Transnational organised crime generates income equivalent to around 2.7pc of global GDP. Around $1.6 trillion of this is laundered to disguise its criminal origins: financial crime is undoubtedly a worldwide problem.
As a major financial and transport hub, the UK is particularly attractive to people wanting to clean or hide dirty money.
The anti-corruption organisation Transparency International recently identified more than 760 companies registered in the UK that were directly involved in financial crime from at least 13 countries.
According to the organisation’s report Hiding in Plain Sight, companies are used as layers to hide money that would otherwise appear suspicious, with many registering in the UK because it is seen as a respectable place to do business.
Fraudsters are increasingly turning towards the latest digital technologies, including cryptocurrencies such as bitcoin, to disguise their illicit activities. They are also using hacking techniques including malware to control ‘mule’ accounts through which funds
... read more at: http://www.telegraph.co.uk/technology/britain-takes-on-money-launderers/