The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald
The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald. By Mark Jones, director of Carmarthen-based Clay Shaw Butler chartered accountants and business consultants. You’ll hear plenty of talk these days about money laundering and you will probably assume it has nothing to do with you. But it is worth taking a moment to consider how money laundering rules could affect your organisation. So, over the next couple of weeks, we will take an in-depth look at money laundering. Money laundering - a definition . . . Most of us imagine money launderers to be criminals involved in drug trafficking or terrorism or to be an arch-criminal like Al Capone. However, legislation, in the last decade, has expanded significantly the definition of what we might have traditionally considered as money laundering. While the general principles remain; money laundering involves turning the proceeds of crime into apparently 'innocent' funds with no obvious link to their crimina...