- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-10-26T19:07:00
The United Kingdom adopted a bill aimed at stemming the flow of dirty money coming into the country through enhancements to government agency capabilities and law enforcement.
The Economic Crime and Corporate Transparency Act received royal assent Thursday. The bill, introduced in September 2022, provides the United Kingdom with “world-leading powers” to allow its authorities to “target organized criminals and others seeking to abuse the U.K.’s open economy,” the government said in a news release.
Among the bill’s provisions, Companies House, the U.K. agency that maintains the country’s corporate registers, will receive enhanced abilities to verify the identities of company directors and remove fraudulently registered organizations.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2024-08-06T16:54:00Z By Adrianne Appel
Nearly all but a tiny minority of financial institutions saw their costs of financial crime compliance rise in 2023, a survey by LexisNexis and Oxford Economics found.
2023-11-24T15:14:00Z By Neil Hodge
The success of the U.K.’s latest legislative efforts to tackle financial crime depends on the capability of transforming what is often regarded as one of the country’s most passive regulators into a proactive—even aggressive—prosecuting authority.
2023-10-23T18:02:00Z By Kyle Brasseur
The U.K. Financial Reporting Council is the latest regulator to propose standard changes that would require auditors to play a larger role in detecting and reporting instances of noncompliance when reviewing company financial statements.
2025-05-19T14:33:00Z By Adrianne Appel
The Department of Justice (DOJ) has shuttered a special Federal Bureau of Investigation (FBI) unit that focused on public corruption and whose legwork led to the special counsel investigation of President Donald Trump for trying to overturn the 2020 election results.
2025-05-19T14:09:00Z By Aaron Nicodemus
The Trump administration is preparing to ask the European Union to alter or water down its rules on content moderation on social media, claiming that they hurt the competitiveness of American technology companies.
2025-05-16T12:20:00Z By Adrianne Appel
The Consumer Financial Protection Bureau has pulled back a draft privacy rule that would have required businesses to take more steps before selling consumers’ financial and personal data.
Site powered by Webvision Cloud