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Lawmakers Heap Pressure on UK Officials to Close AML Gaps

By Koos Couvée

An influential panel of U.K. lawmakers called on British officials Wednesday to consider introducing legislation that would allow compliance officers to share intelligence with investigators even when they have not yet formed a clear suspicion of financial crime. In a report that will add to growing pressure on the government to strengthen Britain's defenses against illicit finance, the House of Commons' Treasury Committee reiterated longstanding concerns over criminal abuse of U.K. legal entities and the lack of resources law enforcement agencies have to tackle fraud, money laundering and other financial crimes. But the committee also raised fresh concerns over the...

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