The current money laundering rules are ludicrous. They make your bank manager, your accountant, your lawyer and anyone you used to deal with in trust and confidence a secret informer against you. Someone only has to suspect you have done something wrong and if they don't secretly report you to the authorities they are in trouble. These wide draconian laws which were meant for terrorism have eroded the fabric of civil society and torn up the trusting social consensus.
Why does this idea matter?
They have made professional people frightened of the state and their clients, gotten the police judges and prosecutors involved in seizures and actions against businessmen and ordinary people and they are the most direct assault on civil freedom that I know of because you can't even see a lawyer now without fear that he may have to secretly report you. They cost the whole economy a fortune in disruption, fear, anxiety, suspicion, form filling and chaos. Ordinary due diligence is fine but not the turning of the banks, accountants, lawyers and all UK business into coerced state informants for suspicion of minor offending. reporting for National security and Terrorism yes, but mandatory reporting for minor offending like common tax evasion – crazy!