The U.K.'s top law enforcement agency will no longer accept incomplete request forms from banks seeking approval to process transactions potentially violating legislation against financial crime and terrorism.
The United Kingdom Tuesday outlined how it might soon get tougher on tax cheats through revised penalties and clearer standards for criminal prosecutions when individuals are aided by commercial advisors.
British officials will soon review the promises and risks of alternative payment systems, including virtual currencies, as part of a broad initiative to promote advances in financial technology.
A U.K. plan to name the owners of privately-held corporations will help shine a light on shell companies, but how revealing that effort will be remains uncertain.
The United Kingdom Thursday detailed a plan to settle alleged corporate violations of criminal laws without pursuing prosecutions -a strategy used by U.S. officials to exact billions from financial institutions.
As the U.K.'s Financial Conduct Authority navigates its first week of existence, the agency's newly released business plan promises a tough approach on fighting financial crime with a focus on complex cases.
The United Kingdom could begin using a powerful prosecutorial tool as early as next year in investigations of financial institutions suspected of facilitating money laundering and sanctions violations.
The Royal Bank of Scotland will pay the United States $500 million over Bank Secrecy Act and sanctions violations committed by the now defunct ABN Amro, U.S. officials said Monday.