Is the Government going overboard?

Article Abstract:

The UK government's growing commitment to tackling money laundering is clearly to be welcomed in some respects, but could also have negative repercussions. It seems to be adopting a very hostile attitude to offshore finance centres such as Guernsey and the Isle of Man, and could undermine the economies of these centres for no obvious gain. An excessively intrusive approach will merely lead to money being shifted elsewhere, with the UK market therefore losing a considerable amount of funds under management.

Commercial Banks, Intnl Banking Services, International Trade Financing, International banking

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Jewellery and junk

Article Abstract:

The Hatton Garden area of London, England, which is known as the city's gold and jewellery quarter, has long been associated with crime. However, serious problems are now emerging as it becomes a centre for laundering drug money. The area offers criminals a cash economy in which transactions are very difficult to trace. The government has introduced a range of legislation designed to eliminate gold fraud, but criminals have always been able to find ways to make money through trading in gold.

London, England, Crime

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