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Stepping-Stones to Major Change: Anti-Money Laundering and Financial Crime Conference 2014

Jonathan Fisher QC has been quoted in a recent article in the Law Gazette following this year’s anti-money laundering and financial crime conference, titled ‘Stepping-Stones to Major Change’.

Director of Economic Crime Command at the National Crime Agency (NCA), Donald Toon, had told delegates that solicitors had been of particular interest to the agency.

Toon said, ‘Perhaps £100bn a year is laundered through the UK Financial Sector, nearly all of it reliant on access to services provided by professionals, such as accountants and solicitors.’

Following this, Donald Toon revealed that Solicitors were the worst offenders for submitting unsatisfactory, suspicious activity reports. However, he also commented that the ‘overwhelming majority’ of whom were honest, because criminals required ‘witting or unwitting help’ from professionals to set up shell companies, trusts and instruments to hide the proceeds of their crimes.

Speaking during a panel discussion, Jonathan reaffirmed Toon’s statement that the majority of solicitors were honest and decent.

Immediately before the panel discussion, Jonathan had addressed the conference on recent money laundering cases in the Courts.

The Anti-Money Laundering and Financial Crime conference took place on Thursday, 20th of November at The Law Society in London.

There was a turnout of over 300 solicitors attending the conference from half eight on Thursday morning until half six in the evening.

To read the full article in the Law Gazette please click here.

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The views expressed in this article represent those of the author and not Bright Line Law.

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