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U.K. officials published new legislation Thursday to counter criminal abuse of shell companies in Britain, empower investigators to seize cryptocurrency and recover illicit funds directly from exchanges, and authorize banks to share intelligence on suspicious clients.

The Economic Crime and Corporate Transparency Bill would also newly empower Companies House, which administers Britain’s corporate database, to verify the accuracy of ownership information, remove errant or fraudulent entries and “proactively” flag unscrupulous company directors and formation agents to law enforcement agencies.

Banks and other private firms will meanwhile have permission to share client data with each other to prevent fraud, money laundering and other crimes, and introduce new powers to allow U.K. law enforcement agencies to quicky seize cryptocurrency when executing search warrants and recover funds directly from crypto exchanges.