UK’s ICA voices fears over new anti-money laundering laws


LONDON – The UK’s leading accounting body is concerned that new laws proposed in the UK to crack down on money laundering will increase costs and reduce efficiency for both businesses and law enforcement agencies.

The UK government proposed its Proceeds of Crime Bill in March this year with the aim of simplifying the UK’s complex anti-money laundering laws and preventing criminals from benefiting from the proceeds of crime. It will establish a criminal assets recovery agency with powers

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