First U.K. Risk Assessment Shows Need for Renewed Crackdown on Money Laundering, Says Official

By Irene Madongo

The United Kingdom needs to "do more" to crack down on money laundering and other types of economic crime, especially involving proceeds placed in banks or real estate, a senior government official said Monday, citing the soon-to-be-released, first-ever national risk assessment for money laundering and terrorist financing. The national risk assessment (NRA) will also serve as the basis for an anti-money laundering plan that will seek to address shortfalls and "intelligence gaps," and enhance law enforcement's response to the most serious threats, Robert Buckland, HM Solicitor General for England and Wales, said at the 33rd Cambridge International Economic Crime Symposium....