Leading UK law practice’s money-laundering defense depends upon awkwardness: ‘In Europe, in my culture, we do not do that. You do not ask err, just how much do you make?’
A leading law practice dealt with accusations that it broke UK money-laundering guidelines by being too respectful to ask a politically linked lender from a previous Soviet republic how he got his money.
Dentons bypassed an internal caution prompting "severe care" in handling him as a customer and stopped working to ask the lender where his wealth originated from in case it may be "impertinent or rude," legal regulators had actually declared at a London court. While the tribunal dismissed the case Monday, discovering no breach of the market guard dog's concepts, it did discover evidence of drawbacks relating to money-laundering guidelines.
The lender, who can't be determined due to a court order, had actually invested 10s of countless pounds on London residential or commercial proper...