Why is the UK’s anti-money laundering system being seen as "woefully inadequate"?

Britain is being used to wash billions in dirty money — and banks are blocking moves that could crack down on it

From Business Insider –

“Britain's "woefully inadequate" anti-money laundering system has left the country wide open to corrupt money and terrorism funds and needs radical overhaul, a leading anti-corruption group said on Monday.

Each year billions of pounds of dirty money flow through Britain, but the system for identifying it is too fragmented and unaccountable to be effective, according to a report by Transparency International UK (TI-UK).”

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