The European Union is failing to exploit valuable financial intelligence on terrorism and organized crime because of poor staffing in government bureaus and inadequate information sharing across borders, officials told parliamentarians.
The United Kingdom's National Crime Agency will test a new approach to handling suspicious activity reports in its efforts to combat rampant money laundering through British banks.
Britain's tax enforcer Friday revised its plan to seize money from delinquent taxpayers, extending the time debtors have to appeal the decisions and bolstering independent oversight of the program.
A proposal to hold British bankers more accountable for compliance failings could soon extend to senior executives of foreign banks, U.K. regulators said Monday.
Somewhere in a controversial EU fee for the U.K. disclosed Thursday lies something like an old saw, only it's not about how crime doesn't pay but how it costs, and in unexpected ways.
ACAMS moneylaundering.com spoke with the co-head of the United Kingdom's Serious Fraud Office's bribery and corruption unit, Ben Morgan, about his hopes of securing the U.K.'s first deferred prosecution agreement with a corporate.
U.S. authorities should consult British regulators on the financial penalties they plan to impose on banks in the United Kingdom, Prudential Regulation Authority head Andrew Baily said Tuesday.
With the polls close and voter turnout expected to be around 97 percent, Scotland's referendum on independence is an event rife with uncertainties. One exception: "yes" will mean rethinking the country's banking sector.
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.
The United Kingdom's Supreme Court decision in favor of Bank Mellat, Iran's largest private bank, will not weaken overall sanctions on Iran, U.K. legal and banking sources said.
A recent spate of compliance fines and U.S. investigations has imposed renewed pressure on British banks to improve their anti-money laundering and sanctions programs, say industry sources.
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