Westminster Rebuffs Criticism Of AML Supervisory Structure

The UK government has rejected calls to reconsider the anti-money laundering (AML) supervisory role of the country’s tax regulator, speed up action on de-risking and focus on calculating the true scale of financial crime within its borders.

The influential Treasury Committee set out several suggestions to lawmakers in March following an expansive inquiry into economic crime, warning that the UK’s AML regime is suffering as a result of fragmented supervision and blind spots.

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