The art of hiding money from the taxman is under threat from laws demanding greater transparency
What is money laundering?
In British law, money laundering is defined as the process of concealing, disguising, converting, transferring or removing criminal property.
It is an offence to launder your own ill-gotten gains, but you can also be prosecuted for knowingly helping manage another person’s dirty money. An offence only occurs if the cash can be identified as the proceeds of a crime; for example corruption, bribery, theft, drug dealing or even tax evasion. Continue reading...