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NCA: Pakistan among top three sources of money laundering in the UK

Published on May 23, 2018
According to an analysis by the National Crime Agency (NCA), Pakistan has been identified among three main source countries for money laundering in the UK.

  • Nigeria and Russia are the top source countries for money laundering in the United Kingdom.
  • The report is titled “National Strategic Assessment of Serious and Organized Crime 2018”.
  • As per the report, the UK is a prime destination for foreign corrupt and politically exposed people to launder money.
  • The analysis of the NCA is based on the annual assessment of serious and organized crime in the UK.
  • Investment in UK property, particularly in London, continues to be an attractive mechanism to launder funds.
  • Trade miscinvoicing is the largest component of illicit financial outflows.
  • According to the report, the UK is a prime destination for foreign corrupt PEPs (politically exposed persons).
  • The overseas jurisdictions that have the most enduring impact on the UK are Russia, China, Hong Kong, Pakistan, and the United Arab Emirates (UAE).

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