The UK financial system is at high risk of being used to launder billions of pounds of corrupt cash through “known professional enablers” in the legal and property professions, according to a new report.

The national risk assessment of money laundering and terrorist financing warned that the country’s banking, accountancy and legal services sectors were at a high risk of exposure to handling corrupt money.

“The same factors that make the UK an attractive place for legitimate financial activity – its political stability, advanced professional services sector and widely understood language and legal system – also make it an attractive place through which to launder the proceeds of crime,” said the report by the Treasury and Home Office.

The original article can be found at www.theguardian.com