News

Legislation published on Sept. 22 aims to newly empower British banks, payment platforms, cryptocurrency exchanges and other companies regulated for anti-money laundering purposes to share data on suspicious clients and transactions with each other. The long-touted proposals to spur private-to-private data exchanges comprise but six clauses of the 250-page Economic Crime and Corporate Transparency Bill, most of which pertains to converting Companies House, the government entity tasked with overseeing Britain's database of corporate beneficial owners, into a more active gatekeeper of information. "The clauses permit businesses to share information, providing them with more data with which to make risk-based decisions,"...