UK Payments System Takes Lead Role In New Economic Crime Plan

The UK government has put the overhaul of the country’s payment architecture on the front line of the fight against economic crime as it announces an array of new measures to combat illicit finance.

HM Treasury published its new Economic Crime Plan early this morning, unveiling a broad sweep of commitments intended to revitalise the ability of UK regulators and authorities to counter rising levels of fraud, money laundering and terrorist financing.

“We’ve made progress in the fight to stop criminals profiting from their offending — but we must go further,” said home secretary Sajid Javid.

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