Illegal arms dealing and money laundering

All those working within the regulated sector for anti-money laundering (AML) purposes are required to report any suspicions to their Money Laundering Reporting Officer (MLRO). They will then submit this to the Serious Organised Crime Agency.

Those required to report include practising accountants and their relevant employees, as well as those working in the financial services.

HM Revenue and Customs is responsible for the enforcement of UK Trade and Export Control legislation.

Those working outside the regulated sector for AML purposes are not required to report suspicions of illegal arms dealing. They are however, free to do so. There is a specific confidentiality over-ride for reporting such money laundering suspicions.

Anyone fearing that they or their company may be implicated in illegal activity are strongly advised to make a report - as a defence to a potential criminal charge of money laundering. They are also strongly advised to regularise their position without delay, by contacting the Export Control Organisation.

Further information is available from the Export Control Organisation pages on the BERR website.

Find out more about financial sanctions from HM Treasury