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A United Kingdom plan to exempt some small businesses from anti-money laundering obligations could mean more due diligence work for the financial institutions that bank them, say consultants. In a 60-page consultation paper published Tuesday, the U.K. Treasury said it planned to amend its July 2007 anti-money laundering (AML) regulations to drop the regulatory requirements for companies that report less than USD $22,000 in annual tax liabilities. The United Kingdom doesn't currently distinguish between small and large businesses in its AML regime. While the exemptions would reduce costs, the small businesses "could become conduits for illicit activity away from supervisory...