Counterfeiters may try to use your company to launder money by stealing your products, your company’s identity, or your business. Criminals may contact you in writing, over the phone, or through email. Cybercrime is becoming a top priority for the citizens and enterprises. Scams that are common include those involving investment opportunities or chances to find new clients for whom you would provide services but never be paid. Phishing, or fraudulent emails requesting your company’s banking information, is a frequent method of money theft. If you’ve been the victim of fraud, you can call ‘Action Fraud’ and obtain assistance.
Money laundering and financing of terrorism
Money laundering is the method through which funds obtained through illegal activity are given an appearance of respectability, thus cleansing the proceeds of crime.
The method through which money is collected and utilized to fund terrorist operations is known as terrorist financing.
To combat money laundering, the NCA, HMRC ,other law-enforcement agencies, regulators, and professional organisations collaborate. Financial services, trust & company service providers, money service businesses, estate agencies, accounting, legal, casinos and high value dealers, and are just a few of the industries with various legal responsibilities to take into account.
You should protect yourself if you think you’ve been the victim of fraud. You should think about how to safeguard your company’s identity from theft because scammers might try to take it.
Verify your clients and suppliers to protect your business from fraud and crime, including money laundering. It could be a warning sign if a company or customer is unwilling to provide you with their information.
To combat money laundering, HRMC, the National Crime Agency (NCA), other agencies of law enforcement regulators, and professional organisations collaborate.