About the Author

Steve Frame

Steve Frame

Steve Frame is director of Sensu360 Ltd, where he helps businesses reduce risk and maximize profits. He has 25 years of experience in the retail sector, most recently as head of business controls for Selfridges & Co. where his responsibilities included the company’s anti-money laundering strategies, policies, procedures, and investigations. Other roles have included head of loss prevention and profit protection with River Island, Sainsbury’s, and M&S. He also served in store manager and risk manager roles at Woolworth’s.

Articles by Steve Frame

Money Laundering Explained—for Retailers

Retail Industry

Money Laundering Explained—for Retailers

What is money laundering? Most people will describe it as:

Turning dirty money into clean money.
Turning money from the illegitimate economy into money from the legitimate economy.
Washing drug money.
Disguising criminal money.

From the definitions above, most people would not be far off the mark, except that the definitions