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Understanding Anti Money Laundering requirements of lenders and solicitors
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Bear in mind that those who fall under the regulations can face prosecution for not following the rules - even where there's no suggestion that there was actually any criminal activity being overlooked.
shouldn't law enforcement and the government make sure that we are not in the position where solicitors have to carry out this process at risk of being struck off?
Looks to me like this is a case where the government is putting the blame on a third party due to not being able to prevent financial crimes....how did all the russian money get to london? did anyone give visas to russian oligarchs?0 -
shouldn't law enforcement and the government make sure that we are not in the position where solicitors have to carry out this process at risk of being struck off?
Looks to me like this is a case where the government is putting the blame on a third party due to not being able to prevent financial crimes....how did all the russian money get to london? did anyone give visas to russian oligarchs?
You want the government to check every single transfer of money coming into, out of, and internally with-in the country?... You see no issues with this?
You realise that Russian money isn't all criminal; in fact the vast majority isn't.0 -
You want the government to check every single transfer of money coming into, out of, and internally with-in the country?... You see no issues with this?
You realise that Russian money isn't all criminal; in fact the vast majority isn't.
No I don't want the government to check but i do want to be able to buy a house without being mistaken for Pablo Escobar and be considered guilty until proven innocent.
And I think it is out of order to threaten solicitors with the end of their career if they don't carry out checks which are not actually specified properly in the money launderings regs so you get each firm applying said regs differently. One must agree that if the process was done properly then there would be proper guidance as to what solicitors should request?0
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