Lesson 1
Introduction to AML & Financial Crime
The Global Financial Threat
Money Laundering
The process of making illegally obtained money appear legitimate — transforming the proceeds of drug trafficking, fraud, and corruption into funds that can be spent without suspicion.
Global Scale
Source: United Nations Office on Drugs and Crime
The UK Picture
Getting Dirty Cash Into the System
The most vulnerable stage for criminals — where illicit cash first touches the banking system.
Smurfing
Multiple small deposits below GBP 10,000 across branches
Cash Businesses
Restaurants, car washes, nail salons co-mingling illicit cash
Money Mules
Recruited via social media — 37,000 flagged UK accounts
Creating a Maze of Transactions
Shell Companies
No real business — just moving money through corporate layers
Wire Transfers
Multi-country hops crossing regulatory boundaries
Crypto Mixing
Tumblers pool and redistribute to obscure the trail
By the time it arrives, the trail has gone cold.
Looking Legitimate
UK Property
GBP 10 billion laundered through real estate each year
Luxury Goods
Art, jewellery, vehicles — hard to trace provenance
Business Investment
Generating real revenue that obscures illicit origins
Enterprise Risk Management Framework
Barclays Bank PLC — Effective 1 January 2025Stunt & Co
Case Reference — FCA EnforcementInternational headlines. Damaged trust.
The consequences of poor financial crime controls are very real — they allow criminals to launder the proceeds of their crimes.
Your Responsibility
Recognise
Know the red flags. Understand the stages. Spot suspicious activity.
Report
File SARs through proper channels. Never tip off.
Protect
Safeguard Barclays, our clients, and the financial system.
AML compliance is every employee's personal responsibility.