Dirty Money and Lawyers


There's been a dramatic rise in "unexplained wealth orders" in the UK. And East European oligarchs are finding Britain a less accommodating place to hide their wealth. These are nasty orders because if you can't say what the source of your money is, then it's confiscated.

According to the Financial Times a survey of 59 law firms by the Solicitors Regulation Authority shows the firms have done little to manage money laundering risks and 26 of them now face disciplinary action. Now the SRA is reviewing 400 law firms about compliance with anti-money laundering rules.

The UK has always (and is) a convenient place for dumping dirty money, or transiting it through to off-shore tax havens. A former, but weak, British premier promised, and then didn't deliver, that all beneficiary owners of off-shore trusts and the like would be named in a register.

Private Eye has produced a number of reports on how the UK thrives on dirty money with government and financial collusion, including "Looting with Putin: City of London and the Moscow Gold Rush", and "Tax Havens: Selling England by the Offshore Pound". (Worth the subscription to Private Eye, believe me.)

My ex-partner used to tell me about Russians turning up in her law firm with suitcases of money, in the 1990s, wanting to buy houses in London. Everyone knew it was wrong but no one did anything about it.

It now appears with the moves by the OECD and the SRA to clamp down on money laundering we might see more concerted effort to curb this activity. But I doubt it. The banks, including the biggest like HSBC, have been ensnared and law firms, especially those in the City, are natural extensions of networks of financial and professional service firms that exist in order to ensure the smooth transition of money around the world.

A few firms will be clobbered by their regulators, maybe cop a plea, and will carry on much as before only with extra precautions against getting caught. Until we have transparency in what is an opaque system, it is inevitable that money--in all shades of dirt--will attract its willing adherents.



Comments

The Favorite Food Diet lets you eat what you want while still reaching your weight loss goals. Yes, you read that right. Despite what the modern day (and billion-dollar industry) wants you to believe, it isn’t food that’s the problem. Instead, weight gain (and weight loss) has a lot to do with your gut biome and if you fix that, you can eat whatever you want and still see results. There’s no magic pill or ancient stretches or chants to do either. You just use natural remedies that tackle the root cause of obesity and the rest follows in suit. So, if you’re ready to join the 27,000+ people who have lost heathy, sustainable weight while eating all the foods they love, here’s what you can expect from The Favorite Food Diet.
The Favorite Food Diet




Halki Diabetes Remedy Review - You will surely have a a lot of options for combating diabetes type 2 symptoms symptoms, even so the Halki Diabetes Remedy is definitely a useful resource. This product is largely an entire system to prevent this condition, which affects some people all over the world. If you are looking for virtually every definitive method of getting rid of your diabetes, this is an excellent option. The information is 100% backed by science and may benefit a lot of people. It is very inexpensive for your sheer level of information you will get. There aren’t all kinds of other options that will be quite as good since this one overall.


Type 2 diabetes has developed into a major problem throughout the U.S. and all kinds of other parts worldwide. Despite what many people believe, it is actually entirely reversible. The main reason that many individuals with this problem don’t recover is because just don’t discover how. If you might have diabetes and also completely eliminate your symptoms, you will find there's way. There are lots of products which claim to help you people get reduce their diabetes, but none produce as effective as the Halki Diabetes Remedy.
https://www.youtube.com/watch?v=gdIX4g3NB9Q

https://www.youtube.com/watch?v=mFr2_-HmrYE

https://www.youtube.com/watch?v=uNdpjhzTQF8


eat stop eat video https://www.youtube.com/watch?v=9R9LqYKniCk
21 day flat belly fix video https://www.youtube.com/watch?v=oJQbFb9pXz4
How to lose weight in 2 weeks video https://www.youtube.com/watch?v=sXw1FlsCg4U
old school new body video https://www.youtube.com/watch?v=5GOupFtC-b4
Unlock Your Hip Flexors video https://www.youtube.com/watch?v=N1pEQ5T__JU
helloxperts said…
Excellent Blog. I really want to admire the quality of this post. I like the way of your presentation of ideas, views and valuable content. No doubt you are doing great work. I'll be waiting for your next post. Thanks .Keep it up!

QuickBooks is a popular accounting software that helps in reducing paperwork and saves a lot of your time on bookkeeping.
QuickBooks Online Support phone number
QuickBooks Self-Employed
QuickBooks Point Of Sale
QuickBooks Desktop Pro
QuickBooks Desktop Premier
QuickBooks Desktop Enterprise
Find a QuickBooks ProAdvisor
Josephgiretqc said…
Best Mediation Barrister
Wow!Really Excellent Blog. I really want to admire the quality of this post. I like the way of your presentation of ideas, views and valuable content. No doubt you are doing great work. I'll be waiting for your next post. Thanks .Keep it up!