UK PLANS ECONOMIC CRIME LEVY ON BANKS AND OTHERS TO HELP TACKLE MONEY LAUNDERING

On 7 March, various media reported that the UK is expected to announce in the Budget a new levy on banks and other firms regulated for AML to raise up to £100 million, The Economic Crime Levy would generate funds for new technology for law enforcement and hire more financial investigators.  The levy is likely to come into force in 2022-23 and HM Treasury will consult in the spring about who will be asked to contribute.

https://www.voanews.com/europe/uk-plans-levy-banks-others-help-fight-money-laundering

If you’d like to help me buy that (badly needed) new laptop or, even better, a new desktop to replace the one now 5,000 miles away – https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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