Dirty money: why can't banks clean up their act? - Nicola Finnerty quoted in The Telegraph

2 October 2018

Nicola Finnerty, partner in Kingsley Napley's criminal litigation team, comments in The Telegraph on money-laundering regulation.

"There’s a complete lack of accountability because there haven’t been any prosecutions for breach of the money-laundering regulations,” says Nicola Finnerty, a London lawyer who specialises in money laundering, asset seizure and confiscation cases.

“We have a huge armoury of anti-money laundering (AML) legislation, but we’re still seen as a target for money-launderers – our system is seen as weak.

“The Americans are much more robust in terms of fighting money laundering, which inevitably has more of a deterrent effect as financial institutions can see the fines and penalties that have been levied against other banks.”

Click HERE to view the article.

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