The House of Commons Home Affairs Committee has said that government attempts to stop the UK property market being exploited by international money launderers are failing. Many UK based small and medium sized businesses (SMEs) are highly unlikely to come into contact with international money launderers. However, all UK businesses have an obligation to establish and maintain systems and controls that are capable of detecting both money laundering and bribery. Employers can be held liable for the illegal acts of employees and consultants.
At Beavis Morgan we have the expertise to help you establish and implement those systems to protect your business. If you have any concerns or you would like to know more, please contact Paul Ashton or your usual Beavis Morgan Partner.