Anti-Money Laundering Principles and the Legal Profession: Some Lessons of History from England, Klearchos A. Kyriakides Director, ERPIC Democracy & Rule of Law Program, International Business Law Consortium

by on April 20, 2017

Anti-Money Laundering Principles and the Legal Profession: Some Lessons of History from England
Klearchos A. Kyriakides
Director, ERPIC Democracy & Rule of Law Program
International Business Law Consortium
March 2017

According to the UK’s National Crime Agency, many hundreds of billions of pounds of international criminal money is laundered through UK banks, including their subsidiaries, each year. It is a strategic threat to the UK’s economy and reputation. The British Government  has alleged that some solicitors in private praise are ‘complicit professionals’, who have engaged in serious criminal misconduct. Dr Kyriakides argues that these solicitors have failed to comply with some basic anti-money laundering principles, which are to be found in Aesop’s fables and other ancient Greek writings.