- The UK’s golden visa scheme—open for business or corruption?
- Have there been previous criticisms?
- Do you think that AML procedures for financial institutions and law firms are not as robust as they should be? Or have been badly applied (particularly as regards HNWIs)?
- Should current AML procedures by law firms, if correctly applied, ensure that such clients are not retained?
- What are these AML procedures and can you give any practical tips, and what to watch out for?
- Do you think that the situation is likely to be improved once the Fourth Anti-Money Laundering Directive is finally enacted in the UK?
Private Client analysis: A report from Transparency International UK found the UK’s Tier 1 Investor scheme to be susceptible to exploitation by those intending to launder the proceeds of corruption. Nichola Peters, partner at Addleshaw Goddard, discusses high net worth individuals (HNWIs), the UK’s anti-money laundering (AML) procedures, and the importance of UK law firms having effective client due diligence (CDD) procedures.
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