Britain will soon strengthen its asset-freezing powers and review its suspicious transaction reporting rules, according to a governmental plan outlined Thursday. In a 60-page anti-corruption strategy, U.K. officials announced the launch of a cross-departmental group tasked with coordinating the country's legal and regulatory response to corruption. The broad plan will entail strengthening existing laws and promoting preventative measures, including bolstering oversight of courts and improving transparency efforts. HM Government will also weigh regulatory changes intended to improve the "quality and timeliness" of the suspicious activity reports filed to the National Crime Agency and call for lawmakers to lower the evidentiary...
With new international data-exchange agreements in place, the United Kingdom will soon have greater access than ever to information on tax dodgers with offshore accounts, according to the nation's Financial Secretary to the Treasury David Gauke.
Factions within the European Union reached a compromise Tuesday on the terms of the long-awaited Fourth Anti-Money Laundering Directive, including provisions to create central registers on the ultimate beneficial owners of corporate and other legal entities, as well as trusts in every member state.
A British anti-bribery bill expected to pass this month could increase the likelihood that U.S. financial institutions and other companies will face sizable monetary penalties for overseas deals, say consultants.