New plan puts the UK at the forefront of the fight against economic crime

09.05.2023

Government, law enforcement, and the private sector agree on a new plan to crack down on money laundering, kleptocracy, and sanctions evasion. This plan focuses on four main topics:

1. Improving partnerships and collaboration between government, law enforcement agencies, and the private sector to share intelligence and combat economic crime.
2. Strengthening the UK's ability to tackle money laundering, corruption, and fraud by enhancing the legal and regulatory framework.
3. Increasing the use of technology to detect and prevent economic crime, including the use of artificial intelligence and machine learning.
4. Enhancing international cooperation to tackle economic crime across borders, including through the UK's leadership in promoting global standards and working with other countries to improve their capabilities.

(Source: Gov.uk)