UK banks failed to stop "hundreds of millions of pounds" in cash laundering via Post Office channel

The UK Financial Conduct Authority says that prior to 2022 criminals were able to make "multiple deposits of [UK]£20,000 each day to launder large amounts of cash quickly" via Post Office branches due to banks' "limited controls".

The UK Financial Conduct Authority says that prior to 2022 criminals were able to make "multiple deposits of [UK]£20,000 each day to launder large amounts of cash quickly" via Post Office branches due to banks' "limited controls". [1]