UK watchdog welcomes banks’ move on money laundering


LONDON -- UK financial regulators welcomed a decision by the six major UK banks in July to confirm the identity of their customers, to help the international drive against money laundering.

The Financial Services Authority (FSA), the UK’s chief financial market watchdog, plans to make all FSA-registered companies, including banks, insurance companies and financial advisers, check their records for accounts in false names in the autumn.

The six banks are Abbey National, Barclays, HBOS, HSBC

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