For over a decade, compliance officers from some of Britain's largest banks have met each month with U.K. law enforcement agencies for briefings on their high-priority investigations into money laundering, fraud and other crimes. The Joint Money Laundering Intelligence Taskforce, or JMLIT, was launched in February 2015 to allow U.K. investigators to share operational intelligence with around a dozen major financial institutions, which in turn were tasked with scouring their vast data systems for customers and transactions linked to ongoing investigations. Hosted by the U.K. National Crime Agency, or NCA, JMLIT has served as a model for public-private financial intelligence-sharing...
British officials, a financial sector advocacy group and 10 banks will join an anti-money laundering pilot program over the next 12 months, the U.K. Home Office said Wednesday.
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