Just a thought... Money laundering after Brexit

So far among the political turmoil over Brexit and the UK’s future relationship with Europe the issue of money laundering seems to have been overlooked. And that would be a big mistake.

There can be no conclusive estimates of the scale of money laundering in Europe. But we are talking about many billions of pounds a year. Many commentators would say the EU has been far from perfect when it comes to tackling money laundering. But it has at least introduced a series of money laundering directives in recent years that aim to stop the proceeds of crime flowing into its member states.

The most recent the Fifth Money Laundering Directive (5MLD) is set for implementation in 2020. Following on from the Fourth Money Laundering Directive – which ordered major changes to how businesses should take a risk-based approach to money laundering and removed automatic exemptions from due...