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.
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.
Small British banks are failing to effectively implement anti-money laundering (AML) and sanction risks controls, despite extensive work over recent years to address key issues, the United Kingdom's financial regulator has found.
The United Kingdom's tax enforcement agency is unlikely to meet prosecution targets set for the financial year due to crippling funding cuts, say sources.
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.
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.
A decision by the United Kingdom's financial regulator to disclose which banks it is investigating for potential infractions could lead to a slew of legal problems for the agency, say attorneys.
British officials are set to propose legislation that would require private corporations and limited liability partnerships to publicly disclose their individual owners, a U.K. minister said Monday.