Debt collectors & those lawyers who act for them may (unwittingly) become involved in money laundering. The reason being that criminals are ‘inventing’ outstanding debts which are then collected (usually in cash) then washed through the accounts of the solicitor or DCA before being paid to the ‘creditor’:cry:
Therefore in order to avoid criminal money laundering charges both should, as part of their due diligence, ensure they know who their clients are & that the debt is genuine.
Therefore in order to avoid criminal money laundering charges both should, as part of their due diligence, ensure they know who their clients are & that the debt is genuine.
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