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- 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.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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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.
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