UK establishes AML taskforce

LONDON – The UK government announced creation of a task force to overhaul its anti-money laundering (AML) efforts in early July after an audit report conducted by accountancy firm KPMG found that the country’s AML programme was “falling short of achieving its aims”.

The report criticised the fact that “there is no ownership of the suspicious activity report (SAR) regime as a whole and a lack of overall management of the various inter-related processes and activities within the stakeholders, some

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