In the UK it is widely ‘known’ and accepted that the sweet shops and phone shops on places like the famous Oxford Street are fronts for money laundering. Can anyone explain to me what money laundering is and what these shops are actually doing? How do people know these shops are doing it? I don’t understand.
In: 1554
It isn’t generally across the whole UK, but instead mainly in central London where the shops are mainly used by tourists. The shops often sell fake or poorly made knock offs of major products, especially for things like vapes. The business is a cash business since most of the items are relatively small value, the companies behind the shops often also avoid local taxation and VAT payments and often end up being raided by the police or fraud investigators, then temporary close down and then open up again with a new company name and new directors and repeat the process.
Latest Answers