Campaign highlights fight against money laundering

The government has launched a nationwide campaign to explain how the public can help to tackle money laundering and the financing of terrorism.

The campaign sees the launch of information leaflets informing customers of the reasons why they need to prove their identity to financial services companies.

Effective identification of customers using bank accounts and other financial services makes it harder for terrorists and other criminals to hide and move ‘dirty cash’, the government says.

The campaign materials are simple posters and leaflets carrying the endorsement of the treasury, the National Criminal Intelligence Service and the Financial Services Authority.

They will be available for financial institutions to use when communicating with their customers in customer mailings and will be posted in branches or offices.

Announcing the campaign Paul Boateng, Chief Secretary to the Treasury, said: “‘Dirty cash’ comes from crimes like theft, burglary and drug dealing and is used by terrorists to fund their atrocities. It is in the interests of every law abiding person to stop this ‘dirty cash’ being laundered ‘clean’.

“These leaflets will help financial services customers understand the key role they can play in cracking down on this abuse and making Britain a safer place.”

Carol Sergeant, Managing Director of the Financial Services Authority, said: “These leaflets are designed to explain to customers why they are asked to prove their identity by their financial services provider when buying a product or opening a new account. It is an important part of the government’s overall strategy to reduce crime.”

The campaign is backed by the treasury, National Criminal Intelligence Service, Financial Services Authority and the financial services industry.

(GMcG)