The UK government has set out an action plan for the implementation of measures to combat money laundering and counterterrorist finance regime.
The Action Plan defines three main steps. First, strengthen law enforcement response to the threats faced by the United Kingdom. This step will include improved law enforcement capacity and the creation of new legal powers to disrupt the activities of criminals and terrorists.
Second, the reform should help to keep track of those companies that promote or allow to launder money. And, thirdly, to increase the international reach of law enforcement agencies and international exchange of information.
Within the framework of the action plan, the government will hold a six-week consultation on a number of proposed measures. Interior Minister Theresa May said: “The world’s leading financial system of Great Britain is threatened and undermined by money laundering, illegal financing and the financing of terrorism and laundering of proceeds from criminal activities Our plan of action sends a clear signal that we will not tolerate this type of activity in our financial institutions.
We will create a new partnership that will provide in-depth exchange of information and take joint action to protect the rights. And we will act vigorously against criminals and terrorists to ensure the safety and well-being of our citizens and to ensure the integrity of the financial economy of the UK.”