A radical overhaul of the UK’s anti-money-laundering system is needed if the UK is to close the door to the billions of pounds in corrupt money coming into the country every year, according to a report by Transparency International UK (TI-UK). The majority of sectors covered in this research are performing very badly in terms of identifying and reporting money-laundering. Major problems have been identified in the quality, as well as the quantity, of reports coming out of the legal, accountancy and estate agency sectors. There are ineffective sanctions and low fines in relation to the amounts being laundered. Laws are failing to be effective deterrents. Of the seven HMRC-regulated sectors, the total fines in 2014/15 amounted to just £768,000. The research highlights that 1/3rd of banks dismissed serious money laundering allegations without adequate review, and there were only fifteen suspicious cases reported through art and auction houses.