UK Consults On New Money Laundering Supervisor

The UK government has rejected calls for its new money laundering supervisor to be given the power to hand out fines, leaving it only with the ability to publicly censure offenders.

The government announced the creation of the Office for Professional Body Anti-Money Laundering Supervision (OPBAS), part of its implementation of the 4th Anti-Money Laundering Directive (4th AMLD), in March this year.

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