Britain says has taken robust action to stop dirty money
Tweet
Share
E-mail
FILE PHOTO: Canary Wharf is seen from Greenwich Park, following the outbreak of the coronavirus disease (COVID-19), London, Britain, June 3, 2020. REUTERS/Hannah McKay
LONDON (Reuters) - Britain has taken robust action to crack down on dirty money in recent years, its government said on Monday in response to reports that HSBC, Barclays and other banks moved large sums of allegedly illicit funds despite red flags about the origins of the money.
"Criminals should not be able to profit from their illegal activities in any circumstances, and we have taken robust action in recent years to crack down on dirty money," a government spokesperson said in a statement.
Shares in HSBC and Standard Chartered fell on Monday to their lowest since at least 1998 after the media reports based on leaked suspicious activity reports filed by financial firms with the U.S. Dept of Treasury's Financial Crimes Enforcement Network (FinCen).
(Reporting by Huw Jones; Editing by Catherine Evans)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Netflix (NFLX) to Hold
- A Tunisian activist's journey from Gaza flotilla hero to jailed hunger striker
- India foreign minister says reiterated concerns over Russia sanctions act to Rubio
Create E-mail Alert Related Categories
ReutersRelated Entities
Barclays, HSBCSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
