Barclays shuts down cash transfer businesses to prevent money laundering
Barclays shuts down cash transfer businesses to prevent money laundering
British banking giant Barclays is shutting down 200 cash transfer businesses amid concerns they are being used as tools for laundering money. Some fear the closures could hurt immigrants — Somali expatriates in particular — who rely on the transfer services to send funds back home.
Marketplace’s Stephen Beard Morning Report host David Brancaccio from London with the latest.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
