U.K. officials and British bankers are seeking to extend and expand the National Crime Agency's year-long pilot program to tackle illicit finance, according to an industry source.
British lawmakers raised doubts Tuesday about plans to hand a national law enforcement agency jurisdiction over counterterrorism cases amid reports that it had mismanaged the country's database of suspicious activity reports.
The United Kingdom needs to "do more" to crack down on money laundering and other types of economic crime, especially when proceeds are 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.
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