Britain's major banks remain vulnerable to being used to fund terrorism and money laundering by criminal gangs
Major banks still vulnerable to money laundering, says top regulator
Britain's major banks remain vulnerable to being used to fund terrorism and money laundering by criminal gangs, despite being fined billions of pounds in recent years for failing to crackdown on illegal financing.
The Financial Conduct Authority (FCA) warned that its analysis of 17 banks found that half, including four major UK lenders, still did not have proper processes and procedures for ensuring they were not involved in facilitating money laundering.
Tracey McDermott, head of enforcement at the FCA, said that banks’ “trade finance” businesses remained particularly vulnerable to abuse by criminal and terrorists and that in some cases the shipments being funded by lenders were just “fresh air”.
“Some banks have a lot of work to do to raise their game to the best of their peers,” said Ms McDermott.
Martin Wheatley, chief executive of the FCA, warned that organised criminal gangs “filtered, cleaned and rebottled” £10bn in the UK every year, using banks and other financial services.
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
Most Corrupt Series: Elizabeth Warren | Forgotten History
Elizabeth Warren has built her reputation as a "reformer", but her political career has also drawn sharp criticism. Questions have been raised about her fina...
"less prone, Thanks for your support Buddy! "
Charlie Kirk Assassination
September 10th 2025 in Utah Turning Point USA CEO has been assassinated. Coincidentally, answering…See More
FURTHER PROOF OF WALK-INS! Prisoners of the Dulce Base by Sherry Shriner
There is a real connection between the Cabal and what is happening at this Undergroung…See More
Tom Horn discusses Masonic view of 2025
Startling perspective by Tom Horn of the upcoming year: 2025
"It's a distressing state of affairs when evil leftists hardwire impressionable students and…"
"Burbia Charlie Kirk's wife is a real firebrand! God bless that poor woman! "
"Burbia thanks for the videos! "
Charlie Kirk: Grief And Outrage From Turning Point USA in Phoenix
"Early reports said a.second shooter was there. Talk of Dischord chats. Peyton Gendron was coerced…"
America In Crisis: Illegals and Drug Smugglers Have Us Beat
An inside look at how bad the situation is at the Arizona/Mexico border. This exclusive tour with retired Arizona Sheriff Mark Lamb reveals just how bad thin...
© 2025 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network