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NIFA member gets to grips with money laundering

Member: Nifa

In the latest crackdown on suspected money laundering, officers from HM Revenue and Customs have raided a canal boat moored in the centre of Leeds and arrested a sixty four year old man in a joint operation with police and the UK Border Agency.

The man, named as Richard Williams, has been bailed to return in April to face the results of the taxman’s investigation in connection with an alleged one million pound VAT fraud.

The operation is just one of a number that highlight the complexity of investigating money laundering allegations.

With ever increasing pressure on accountants and tax advisers to get the issue and its reporting right, Giles Mooney from internet channel TaxTV has been talking to NIFA member and industry expert David Winch, explaining the core of the issue and some of the traps waiting to snare the unwary.

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