back to listing

Dirty Money

Member: Nifa

According to The Financial Times, the amount of ‘dirty money’ washing around in the UK financial system has reached a record high. 

The newspaper’s research found that requests for information from foreign governments, regarding money laundering activity, have jumped by a massive 12 per cent in the last year, making the crime top of the list for law enforcement agencies to crack.

Laundering money obtained through illegal means has long been the method of choice for criminals, as they believe that if it is ‘washed’ enough times, it will come out clean.  However, when forensic investigators are set to find out its provenance, they are often sadly mistaken.

Of course, uncovering money laundering schemes is not easy.  These crimes are perpetrated by very clever, well-organised criminals. They still leave a trail, albeit a very complex and seemingly impenetrable one.

Forensic investigators on the track of money launderers must be as creative and clever as the people they are investigating and they must also have in-depth knowledge of the methods these criminals use to cover their tracks.

Using sophisticated technology and years of experience, forensic investigators will trace funds, often through multiple jurisdictions and multiple layers.  They will also have to be able to translate the complex work they do into reports that can be understood by lay people, as their evidence is often what will convince a Judge or jury whether or not the money is actually dirty.

Author: Roger Isaacs, 20 June 2017

Share on Twitter