The Effectiveness of the Banks to Laundering Crime of United Kingdom Anti-Money Laundering Systems

Abstract

            Money laundering has been described as crime, according to money source has transformed the ones unlawful source into lawful money which accomplished via placing money through the financial approaches and transmitted to financial products or Bank accounts. Subsequently, it is obviously that the massive range of existed mechanisms which might have exploited via organized criminals to cover their wealth and property without any regard to global borders. Therefore, one of the key elements is banks which are used to be as the middleman for laundering money through the criminal advocate. It is difficult for laundering money via the financial institute which it is appeared from terrible Anti-Money Laundering rules and some conflict for each rule that provided susceptible ability to Bank for performed covers the technique of anti-regulation. This paper will be considered and analyzed on the failure of prevent on money laundering processed, via processing place on financial institutes, especially to Bankers. Additionally, by considering the problem which concern on the bank exposed laundering and understanding to the process of money laundering and anti-money laundering process. Moreover, considering on the issue of regulation on effectiveness to recent anti-money laundering in United Kingdom (UK) has been considered in this paper respectively.