Why a company selling toy soldiers has fallen foul of money laundering rules | FT #shorts
Financial TimesWhy has a company that sells toy soldiers fallen foul of money laundering rules? If you sell artwork for more than £10,000 you need to register with the tax authority and do extra checks on your clients. This is all to prevent illegal cash being washed through the system with art, which can be both expensive and easy to move, explains the FT’s Josh Spero. ► Enjoying FT content? Get a daily slice of the very best FT journalism with FT Edit. Free for 30 days then just £4.99 a month See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132. ► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community ► Listen to our podcasts: https://www.ft.com/podcasts ► Follow us on Instagram: https://www.instagram.com/financialtimes ► Follow us on Instagram: https://www.tiktok.com/@financialtimes