The resounding victory Thursday of Britain's Conservative Party will mean modest tweaks rather than sharp changes to the U.K.'s fight against financial crime in the coming five years, say analysts. The party, which has led the U.K. in a coalition government with the Liberal Democrats since 2010, gained 331 seats in the House of Commons and won a 37 percent share in the national vote, or roughly seven percent more than the Labour Party. Ahead of Thursday, polls indicated a tight race between the two political groups. Labour, the Tories' biggest political rival, is viewed by some as less sympathetic...
The newly elected Tory government wants to empower the United Kingdom's Charity Commission to close down groups that "misappropriate funds towards extremism and terrorism" as part of its efforts to combat terrorism.
The United Kingdom should strengthen asset forfeiture and anti-money laundering powers as part of an effort to aid the recently-formed National Crime Agency, Britain's Home Office said in a report Tuesday.
A planned regulatory overhaul, economic sanctions against Iran and the enforcement of anti-bribery rules will be among the biggest issues British financial institutions contend with in 2012, say experts.
The United Kingdom's chief financial regulator fined Royal Bank of Scotland nearly USD $9 million on Tuesday, the agency's largest penalty ever for anti-money laundering and sanctions compliance failures.