Money Laundering Update
May 13th, 2010 by Chris Chadburn. Categories: Tax Briefs
That authoratitive source The Metro reports that the most common “legitimate” businesses fronting criminal activity are pubs; clubs; car dealers; solariums; nail bars and massage parlours. No great surprises there but you have been warned.
Today’s news was full of the UK banning 500 euro notes with the expert describing the Brussels bureaucrats as “idiots” on the basis that there was never any legitimate reason for such high denominational notes which have proved a godsend to criminals and money launderers.
So we professionals get landed with a complex and time consuming reporting system whilst the law makers ensure the stable and barn doors are wide open. Now that’s what I call criminal.
