Something is afoot with AML/Knox

[agentzero]

In this case I suspect a lot of the money didn’t go to the UK front company but straight to the IoM company.

but it’s fraud by misrepresentation if SmartPay UK say Jane Smith is employed by SmartPay UK when she’s actually employed by SmartPay IoM

I think you are right. The IoM company received the payments, but UK companies thought they were paying a UK company of the same name. This would bypass bank transfer checks by the payer.

https://www.ft.com/content/647f32ba-...8-b41dca599921

[woody1]

I think you are right. The IoM company received the payments, but UK companies thought they were paying a UK company of the same name. This would bypass bank transfer checks by the payer.

https://www.ft.com/content/647f32ba-...8-b41dca599921

Now that does sound underhand. At least with most schemes, agencies/clients paid the same UK company they had a contract with, albeit the UK company was just a front for an IoM outfit.

Makes you wonder what sort of subterfuge is going on with the schemes still operating today...

[eek]

Now that does sound underhand. At least with most schemes, agencies/clients paid the same UK company they had a contract with, albeit the UK company was just a front for an IoM outfit.

Makes you wonder what sort of subterfuge is going on with the schemes still operating today...

Usually less subterfuge than that - nowadays the UK company will pay minimum wage with everything else sent to the overseas company and then “loaned” back

[woody1]

Usually less subterfuge than that - nowadays the UK company will pay minimum wage with everything else sent to the overseas company and then “loaned” back

Can't see how any arrangement like that would ever get around the much tighter DR legislation that's in place now.

These companies must know they're selling a pup.