Money Laundering in action: Mixed views about this one..

This is a January 2008 story, originally shown as part of the BBC's CrimeWatch programme. So it is not fresh but it encapsulates nicely how:

1. Money Launderers don't care if you or your firm is regulated for AML purposes, they will just use you.


2. Transaction costs are of little consequence to Money Launderers.
   
3. Money Launderers ability to use your own systems against you (in this case ticket machines).


4. I've mixed views about this because although what they are doing is obviously a crime and they should be stopped, it does seem to be that they targeted some of the companies that I've commuted with! Sympathetic to the plight of these companies, I am afraid I am not.

"CCTV shows a large-scale money laundering scam taking place at train stations in south London, Surrey and Kent. Several suspects have been caught on camera using ticket machines to get rid of dyed/damaged notes stolen during cash-in-transit robberies. They select the cheapest fare, pay with a stolen note and then pocket the change. The scam is believed to have resulted in around £60,000 worth of notes being pushed through the machines in the last four months."

For CCTV footage of the people police want to talk to in connection with money laundering in London, Surrey and Kent, please follow this link :
http://www.bbc.co.uk/crimewatch/appeals/2009/02/train_station_money_laundering.shtml

Crime date: 19 January 2008
Nature of crime: Money laundering
Where: Train stations, London, South East
Contact: British Transport Police
Phone: 0800 405040