OTHER COUNTRY’S DIRT

The UK is second on the list of global money laundering hotspots, new research from Credas has found.

The study found that an estimated £88 billion is laundered every year in the UK.

Around the world, the total amount laundered annually is estimated at about 3 per cent of global GDP, or
£1.8 trillion, according to the report.

The research shows that when taking the GDP of each nation into account, the UK comes second in the
table, with this 4.3 per cent of GDP equating to £87.9 billion of money being laundered annually.

“The practice of money laundering is as old as the hills and it’s one area of criminal activity that is
incredibly tricky to eradicate as it can be done in such a vast and varied number of ways,” said Tim
Barnett, chief executive of Credas Technologies. “It’s also a practice that continues to evolve with the
times and in more recent years we’ve seen criminals utilise online banking, cryptocurrencies and, most
recently, NFT marketplaces, in order to wash dirty cash.

“Prevention is always better than cure and our technology is deployed the length and breadth of the nation
and across a multitude of sectors to ensure that businesses are safeguarded against this illegal activity.”
ITALY

Italy is categorized by the US State Department as a Country/Jurisdiction of Primary

Concern in respect of Money Laundering and Financial Crimes. According to the
International Monetary Fund, in 2021 Italy's economy ranked eighth largest in the world and the
third largest in the Eurozone.

HIGHLY CORRUPT COUNTRY WITH HIGHEST GDP OF THESE

In first place is the US - while its criminal activity only accounts for 1.4 per cent of the nation’s GDP, this
totals £216.5 billion every year.

France - £54.5 billion in that around 8.2billion has been due to dug trafficking. Till date the GDP of the
gov is increasing rather it should be the other way around so how do u expect

- Germany - £51.3 billion - and Canada - £25.6 billion - also rank within the top five.

Iceland places last, with just £370 million in value, followed by Estonia - £703.4 million and Latvia -
£750 million.
Qatar

Qatar has become an increasingly important banking and financial services center in the Gulf region.
Despite the growth of the banking sector and increasing options for financial services, Qatar still has a
largely cash economy. The expansion of the financial and trade sectors, the large number of expatriate
laborers who send remittances to their home countries, the liberalization and growth in the real estate
sector, uneven corporate oversight, and Iran’s efforts to bypass sanctions through Gulf economies make
Qatar increasingly vulnerable to the threat of money laundering. The exploitation of charities and private
donations to finance terrorism continues to be a concern, as does the ability of individuals to bypass the
formal financial sector for illicit financing.

Israel

How many laws has Israel violated?

Laws Violated: Israel has violated 28 resolutions of the United Nations Security
Council (which are legally binding on member-nations U.N. Charter, Article 25 (1945); a
few sample resolutions - 54, 111, 233, 234, 236, 248, 250, 252, 256, 262, 267, 270,
280, 285, 298, 313, 316, 468, 476, etc.

Japan
Japan is a regional financial center but not an offshore financial center. The country continues to face
substantial risk of money laundering by organized crime, including Japanese organized crime groups (the
Yakuza), Mexican drug trafficking organizations, and other domestic and international criminal elements.
In the past several years, there has been an increase in financial crimes by citizens of West African
countries, such as Nigeria and Ghana, who reside in Japan. The major sources of laundered funds include
drug trafficking, fraud, loan sharking (illegal money lending), remittance frauds, the black market
economy, prostitution, and illicit gambling. Bulk cash smuggling also is of concern. There is not a
significant black market for smuggled goods, and the use of alternative remittance systems is believed to
be limited.
India

What is India's status in FATF?

As a result of this report, the FATF rerated the country on 7 of the 40
Recommendations. Today, the country is compliant with 12 Recommendations,
largely compliant with another 12 Recommendations, but remains partially
compliant with 10 Recommendations and non-compliant with 10.

At present, the National Investigation Agency (NIA) is investigating 11 cases of hawala-routed

terrorism funding in India.

Russia
What do u think about the tax laws your country’s violating by using London?

According UN Report of 2023, it is suspected that government Russian nationals have

exploited lax checks by the companies register in attempts to launder war profits stolen
from Ukraine, according to people familiar with the matter.

British law enforcement agencies have identified large numbers of sham companies
incorporated in the UK by nationals from a range of countries in recent years, likely for
the purposes of money laundering or tax evasion, the people said, asking not to be
named discussing confidential matters.

France

France is a venue for money laundering. Public corruption, narcotics and human trafficking,
smuggling, and other crimes associated with organized crime are sources of illicit proceeds.

France can designate portions of its customs territory as free trade zones and free warehouses in
return for employment commitments. The French Customs Service administers these zones.
France has an informal economic sector, and underground remittance and value transfer systems
such as hawala are used by immigrant populations accustomed to such systems in their home
countries. There is little information on the scale of such activity.