A major accounting firm has recently been accused of covering up evidence concerning an organised crime gang which was involved in international money laundering.
It is believed that twenty-seven members of the crime gang were imprisoned in France in 2017.
It was alleged that the organised crime group had collected funds from drugs dealers across Europe and then laundered the proceeds by buying and selling gold on the black market.
Investigations revealed that the crime gang had a longstanding relationship with a large gold refinery in Dubai.
The accountancy firm was asked to conduct a review of the oil refinery’s recent compliance with rules designed to keep gold that originated from illicit sources out of the global supply chain.
Suspicious Activity Report | Kangs Financial Fraud Team
Members of the regulated sectors, including accountancy, banking, property and legal sectors, must report any suspicion about possible money laundering activity to the National Crime Agency by creating a Suspicious Activity Report (‘SAR’).
The number of SARs created increased dramatically in 2017/18 after regulations were imposed rendering it a criminal offence for any failure to report suspicions of money laundering.
How Can We Help? | Kangs Fraud and Money Laundering Experts
Kangs Solicitors has a dedicated team experienced in representing clients who are being investigated in respect of every aspect of alleged criminal activity including very serious and complex money laundering.
Every possible step is taken to ensure each client is properly guided and fully advised from the Police Station process through to trial and we are happy to provide our clients and fellow professionals with an initial no obligation consultation.
If you need help and assistance in respect of allegations of criminal activity of any nature, please contact our team immediately through any of the following: