News

An "economic crime levy" paid by almost 3,000 banks and other companies subject to anti-money-laundering regulations in Britain raised more than £90 million for the country's cash-strapped law enforcement agencies in its first 12 months, officials disclosed Friday. Financial institutions began paying the levy in April 2023 to raise funds for the National Crime Agency, or NCA, and other government organizations that play a role in clamping down on illicit finance in Britain, including Companies House, which administers a national database of beneficial owners and other registries of corporate information. In a 22-page report, HM Treasury disclosed Friday that despite failing...