Dirty laundry

I have recently felt bound to put in my first report under the money laundering regulations but found that the SOCA website was not very user friendly.

Historically I’ve found that in a potential money-laundering situation one is dealing with something that the man in the street would not consider ‘money laundering’.

Previously I have always been able to dig down to that underlying problem – say undeclared income or an over-repayment of tax – and correct it. The money-laundering point then I hope has disappeared.

With my case I sent several lengthy letters to my now ex clients outlining my concerns with detailed schedules and back-up papers. All that the SOCA website allows is a brief note and there is no capacity to attach PDF copies of the letters and schedules that would give the full story.

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