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Britain Publishes New Economic Crime Plan

The U.K. government on Thursday disclosed plans to recruit 475 additional financial investigators and create a new unit dedicated to tackling cryptocurrency-related financial crimes as part of a three-year plan to boost the country’s campaign against illicit finance.

In a 90-page report, officials also outlined proposals to expand a unit at the U.K. National Crime Agency responsible for tracing assets connected to blacklisted Russian oligarchs and suspected corrupt officials, and invest £100 million in data analytics and other technology to strengthen law enforcement agencies’ ability to tackle complex money laundering schemes.

Funding for the investments and recruitment drive will largely come from a new levy on firms subject to anti-money laundering rules that will come into force next month and is expected to raise £300 million over the next three years.

Moneylaundering.com may update this coverage as more information becomes available.
Topics : Anti-money laundering , Sanctions , Cryptocurrencies
Source: United Kingdom
Document Date: March 30, 2023