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UK Authorities to Share More Financial Intelligence with Banks: Report

By Koos Couvée

U.K. officials pledged Monday to give financial institutions more access to government intelligence on high-end money laundering and better feedback on their suspicious activity reports, or SARs. In a 72-page report, the U.K. government disclosed plans to create a new National Economic Crime Center for bankers and officials to exchange more financial intelligence, and said it would also expand access to the Joint Money Laundering Intelligence Taskforce, or JMLIT, a forum through which bankers and investigators already share data on high-value financial crime. The NECC will be housed within the National Crime Agency, or NCA, and staffed by industry representatives...

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