Welcome to this new group

For some years now I have been responding to queries on AccountingWEB concerning money laundering, compliance with the Money Laundering Regulations, and dealing with suspected crime - so when AWEB offered me the chance to create a discussion group on the new-look website I didn't need to think twice before saying yes!

Somehow the topic seems to come up regularly because of accountants' responsibilities and awareness of financial crime in all its forms, as well as the tiresome responsibilities of complying with the ML Regulations in the 'regulated sector'.

Feel free to post queries or comments here.

If you need further help have a look at the websites of my companies: MLRO Support Ltd http://www.MLROsupport.co.uk for money laundering and training issues, or Accounting Evidence Ltd http://www.AccountingEvidence.com for forensic accountancy related to crime and proceeds of crime.

We have a free monthly email newsalert if you want to keep up with developments in the field. To subscribe click on the link on the Accounting Evidence website.

I look forward to reading your posts!

David

Comments
vinaymehta1959's picture

MISSING TRADER

vinaymehta1959 | | Permalink

I have clients who are caught up in the missing trader chaos created by the HMRC, the clients are mainly in the business of wholesaling and exporting mobile phones. The clients have had VAT Rebates held in lieu of further investigations and tribunal hearings. The monies have been held for over 3 years.  The tribunal hearings are not held regularly there is a significant backlog the HMRC investigation is at a stand still as they have no evidence or way forward it is at a stalemate. 

The clients have substantial amount of funds tied up with HMRC and are not able to pay their debts nor tax bills and if they are are made bankrupt who will foot the damages HMRC seems beyond reproach as they have in the case of missing traders held every one guilty until proven innocent despite the recent cases such as Olympia where the Tribunals decision proved that the HMRC have been unreasonable to the extreme.

 

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Group: Money laundering and crime
A group for discussing issues relating to suspected money laundering and other crime