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Finance firms cut crime prevention teams despite money laundering alerts swelling

Daily Life In England Under Third Coronavirus Lockdown
The number of alerts to law enforcement agencies of potential money laundering or terrorist financing climbed to over 1m last year, according to the City watchdog (Photo by Dan Kitwood/Getty Images)

Instances of suspected money laundering in Britain’s financial services sector are growing rapidly.

The number of alerts to law enforcement agencies of potential money laundering or terrorist financing climbed to over 1m last year, according to the City watchdog. 

More to follow.