March 21 2017
The Economic Secretary to the Treasury has vowed that the Government will crack down on money laundering practices, after several of the UK’s biggest banks were accused of processing money from a Russian scam, believed to involve up to $80bn (£65bn).
The Guardian on Tuesday reported that HSBC, the Royal Bank of Scotland, Barclays and Coutts had waved through hundreds of millions of pounds of transactions linked to a major scam in Russia.