How British Merchants "Perfected" Money Laundering

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‘Money laundering’ wasn’t coined as a term until the 1970s, when the Watergate scandal hit. Since then, the phrase has become a household word, while the crime itself remains a familiar hallmark of criminal enterprises.


During the 1990s, the Bank of New York helped Russia launder capital flight when the USSR broke up.

HSBC was fined almost $2 billion for cleaning the money of drug traffickers, terrorists, and rogue nations like Iran.

Al-Qaeda’s financial operations in the run-up to 9/11 couldn’t have happened without the help of the United Arab Emirates Dubai Islamic Bank. Allegedly…

Even Fortnite isn’t safe.


After some hackers stole lists of credit card details, they bought in-game currency to sell for real cash.

But money laundering isn’t relegated to secret boardroom meetings in flashy skyscrapers.

Take the US candy shops in London.

Over the last ten years, a suspicious amount of American sweet shops have popped up across the capital, including Oxford Street.

As one of the world's busiest streets, the rent here is extremely high. Shops like TopShop, Nike, and Uniqlo have to work hard to cover costs.

Yet similar-looking chains of deserted US candy importers can somehow afford multiple shops throughout the one-and-a-half-mile street.


They even operated during the Covid lockdown when other shops struggled to stay open.

Perhaps to nobody’s surprise police raids have uncovered a staggering amount of illegal goods and cash.

One derelict shop was fronting up to £55,000 worth of illicit goods, including counterfeit chocolate bars.

But where did this all start?

How did we get to a world where money laundering is so commonplace that even average citizens treat it like a joke?

-- Sources --

1 https://www.britannica.com/event/Wate...

2 https://www.nytimes.com/2005/11/09/bu...

3 https://www.bbc.com/news/business-206...

4 https://www.telegraph.co.uk/news/2017...

5 https://variety.com/2019/gaming/news/...

6 https://www.retailgazette.co.uk/blog/...