Great Britain takes a course on strengthening measures to combat money laundering in the country

The Secretary for Security Affairs issued a new statement

Recently the Secretary for Security Affairs, Ben Wallace, during his speech to the British MPs, announced that his agency has intention to take a course on combating so-called accomplices in money laundering. These included lawyers, real estate agents and accountants.

This statement was made amid the heated debates in the House of Commons of the British Parliament concerning the impossibility of coming into effect before Brexit of the bill called «MAGNITSKY AMENDMENT» to the Sanctions and Anti-Money Laundering Bill adopted some time ago.

Let us remind you that «MAGNITSKY AMENDMENT» is an analogue of the American document under the same name «MAGNITSKY ACT», aimed at countering foreign officials, convicted of involvement in the violation of human rights and corruption. Assets freeze until the legality of their origin is clarified, as well as the prohibition of issuing visas are stipulated among possible applicable measures to this category of persons.

According to Wallace, the leaders in laundering are Russia and China; they buy up valuable assets in Britain, with subsequent resale, in which they are actively assisted by various profile specialists.

The application of the «MAGNITSKY AMENDMENT» means the creation of the National Centre for Combating Economic Crimes, which will operate on the basis of the UK Crime Control Authority and will be responsible for interdepartmental work to counter economic crime.

In addition, Ben Wallace warned members of Parliament about the impossibility of a quick solution to these issues. As it turned out, at the moment, more than 100 people are under suspicion, the confidence of which in the legality of their means on the territory of Britain is questioned. A number of persons who helped to buy real estate and promote money laundering were arrested. In this regard, the collection of evidence can be delayed for indefinite time.

Administrative sanctions, including criminal, aimed at countering the withdrawal of laundered funds abroad, will be applied against lawyers, accountants and real estate agents.

It is worth noting that the Secretary of State for the Home Department of Britain insists on the need to collect evidence, rather than to use public opinion, which will eventually allow law-abiding investors to protect their reputation and assets in the territory of the Foggy Albion.