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Barclays shuts down cash transfer businesses to prevent money laundering

Stephen Beard Jul 10, 2013
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Barclays shuts down cash transfer businesses to prevent money laundering

Stephen Beard Jul 10, 2013
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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.

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