As a result of the high inflow of corrupt money in London that mostly come from Russia, Nigeria, Pakistan, former Soviet States and Asia which an estimated total of 100 billion pounds, Britain is set to issue a new levy on banks and other firms associated with anti-money laundering regulations to raise about 100 million pounds to fight illegal money in Britain. The Finance Minister, Rishi Sunak, is expected to unleash the plan for an economic crime Levy aimed at generating money to develop new technology for law enforcement and to employ more investigators. According to Sunak, “Criminals will have nowhere to hide their illegal funds as we adding more investigators and investing in an advance technology to fight this”. The proposed levy is expected to be effective by 2022 or 2023.
