- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Ruth Prickett2024-09-06T12:00:00
The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.
KPMG’s latest Fraud Barometer, published in February, found that while the total value of fraud identified this year has fallen, money laundering bucked the trend. Fraud related to money laundering was the highest value fraud category in the U.K. in the past six months, and nine cases with a total value of 128.2 million pounds (U.S. 161 million) went through the courts.
Roy Waligora, partner and head of U.K. investigations at KPMG, warned that court cases may increase. “It will be interesting to see if the relatively new requirement for overseas entities to be registered at Companies House will result in even more of these cases reaching the courts soon,” he said.
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