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).
