A proposed revamp of UK money laundering laws would result in new payment methods facing greater scrutiny, as the government bolsters its defences against financial crime.
Under Home Office and HM Treasury plans, officers at the National Crime Agency (NCA) would be granted greater powers to gather intelligence from payments companies and other firms whose services might be used to wash money.
The move follows a risk assessment in 2015, which found that abuse of money service businesses was among the most significant money laundering and terrorist financing threat faced by the UK.
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