UK to probe British banks' 'role' in money laundering case

London

BRITAIN said the authorities would investigate newspaper allegations that UK-based banks had been used in a global money laundering scheme.

A Reuters report published earlier this month shone light on a Moldovan "Laundromat" probe into an alleged Russian-led money laundering scheme, in which US$22.3 billion passed through Moldova using Russian shell companies and fictitious loans from offshore companies based in Britain in 2011-2014.