Money laundering impacts the UK annually in the hundreds of billions of pounds. Criminals employ a range of techniques to conceal the origins of the proceeds of crime.
Unfortunately, professionals working in the accountancy, legal and property sectors are at risk of being targeted for their skills and services. That’s why the professions are working with the Government to support the “Flag It Up” campaign.
Flag It Up aims to raise awareness of the warning signs of money laundering, as well as the correct identification processes required, and ultimately to help professionals to protect themselves by submitting high-quality reports of suspicious activity (SARS).
A January 2019 poll was undertaken for the Flag It Up campaign, to ascertain where anti-money laundering (AML) sits as a firm’s priority. The snapshot poll, conducted by Coleman Parkes Research, surveyed 100 legal professionals and initial findings were:
It is essential that legal professionals file high-quality SARs to prevent money laundering. If you have a #SuspiciousMind, #FlagItUp. For more information on the campaign, visit: flagitup.campaign.gov.uk