Financial Crime Financial Crime

Huge drop in record UK money laundering penalty isn't a sign of going soft, tax office says

By Martin Coyle
  • 10 Jun 2022 16:46
  • 10 Jun 2022 16:46
A more than 90 percent drop in the largest money laundering fine imposed by the UK’s tax department doesn’t mean it’s going easy on financial crime, it told MLex today.

HM Revenue & Customs fined MT Global, a UK-based money transfer business, a record 23.8 million pounds in January last yea

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Martin Coyle

Senior Correspondent

Martin Coyle is a senior correspondent, based in MLex's London office, reporting daily on bribery and corruption issues in the UK and Europe. Previously he was a senior editor at Thomson Reuters where he covered anti-money laundering, financial crime and regulatory enforcement issues. Prior to that he was editor of The Accountant, the world's oldest accounting publication, and International Accounting Bulletin, a bi-monthly business journal owned by Lafferty.

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