Money laundering: Is it on our high streets?

Could high streets be at risk of money laundering?

Transcript

00:00In the UK, tackling money laundering remains a priority for government agencies and police

00:05forces. Criminal groups continue to exploit weaknesses in cash-intensive sectors and

00:11corporate structures, using apparently ordinary businesses to disguise the proceeds of crime.

00:17At the same time, the regulatory framework has expanded, with updated national risk

00:23assessments and tighter expectations on banks, accountants and other regulated industries.

00:29These measures are designed to strengthen oversight and disrupt the movement of illegal

00:34money before it reaches the high street. For communities across the country, the picture

00:38is mixed. Most local businesses are entirely legitimate and operate within the law, but

00:44the enforcement teams remain alert to signs of exploitation and financial crime. The aim

00:50is to protect both the public and genuine traders by identifying problems early and ensuring

00:57that any concerns are investigated properly.