London is now the global money-laundering centre for the drug trade, says crime expert

London’s inflated property prices are fuelled by dirty money
03 July 2015
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The City of London is the money-laundering centre of the world's drug trade. UK banks and financial services have ignored so-called "know your customer" rules designed to curb criminals’ abilities to launder the proceeds of crime. A National Crime Agency (NCA) threat assessment stated: "We assess that hundreds of billions of US dollars of criminal money almost certainly continue to be laundered through UK banks, including their subsidiaries, each year."

Saturday, July 4, 2015
The Independent (UK)