Government must have a global strategy to combat advanced AML

19 April 2021

Commenting on proposals by the EU to launch a five-year plan to tackle money laundering, SmartSearch MD Martin Cheek says: “The EU has set out a five-year plan for law enforcement and governments to work more closely together to prevent criminal activity such as human trafficking and money laundering - which has been on the rise over the last few years.

“In doing so they have also recognised that organised crime gangs have increasingly gone digital and it raises serious questions about what our own government, now we’re outside of the EU, is doing to combat the problem here.

“Organised crime gangs have come a long way from the TV depiction of thickset men in balaclavas robbing banks. They are highly ‘skilled’ in using the digital resources available to carry out their crimes without leaving home, or even needing to be in the same country.

“The Chancellor announced recently in his March Budget that HMRC would be getting new powers and resources to tackle money laundering, which is welcome. But we must have a strategy in place which is based on cooperation with governments around the world, including the EU, and use the latest technology available to identify and pursue those responsible. Because it’s clear, the criminals are using all the tech available to them, so should the law enforcement agencies trying to stop them.”

Proposals by the EU to launch a five-year plan