Today, the serious crime of money laundering is performed in every country with different forms of operations involving criminal activity and other illegal activities. Majorly, countries having problems related to policymaking and law implementation, experience plenty of money laundering cases and social instability as well. The list mostly comes under the developing and under-developed nations. Not only the poor countries, but reports show that in countries like the US and UK, money is frequently laundered.
Nigeria is among the countries where there are too many cases of money laundering. The major reason is corruption. Nigeria’s former minister of petroleum was arrested for money laundering recently.
The second in the ranking is Isle of Man with 0% corporation taxes and 20% income tax and is also one of the well-known hotspots of money laundering.
The British Virgin Islands is another greatest country dealing with many money laundering cases; another tax haven. There are many offshore companies legally operating there.
A lax financial system also exists in Cyprus and in a report by EU-commission, it was claimed that millions of dollars are deposited BY Russians to the local banks which are suspected to be laundered money coming from Moscow’s mafia.
A number of serious fraud cases are also reported in Hong Kong. It was reported that there were nine money laundering cases in the first half of this year.
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ACE Money Transfer is a UK based Company and has been operating in the North West of England since 2002. Our head office was the starting point of the UK success story when we commenced business with retail clients and two business associates but after obtaining our Authorized Payment Institution (API) from Financial Services Authority (FSA) our company is now set to become a global name specializing payment services
Over the past 10 years, by keeping in mind basic necessities of people, understanding that they belong to different cultures and respect their values & norms, finally ACE decided to channelize our network into new dimension by giving opportunities to all communities to send their hard earn money back to their home. We have made this possible through our expanded network of agents, correspondents, partner banks, established branches in Europe, and MTOs (Money Transfer Operators) across the UK, Europe, Africa and Asia in more than 70 countries worldwide to entertain our 2 Million Customers around the globe to send & receive their payments through 200,000 locations that help us to build our credibility and retain customers trust on ACE Money Transfer.
The company success stems from the expertise and market knowledge of its senior management and this will ensure that the company is well positioned to make a positive impact to the market and will be able to sets itself apart from other remittance providers.
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