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08 September 2023 / Kate Bridgland , Oliver Cooke , Richard Marshall
Issue: 8039 / Categories: Features , Fraud , Criminal
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The UK financial crime regime: fit for purpose? (Pt 2)

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A cunning (economic crime) plan? Kate Bridgland, Oliver Cooke & Richard Marshall turn their attention to the government’s proposals for tackling money laundering & fraud
  • The Economic Crime Plan 2 represents a robust and necessary commitment to combatting economic crime.
  • Sensible measures are proposed, but the proof will be in the metaphorical pudding.

The UK government has committed to robustly combatting economic crime. This commitment takes the shape of the catchily-titled Economic Crime Plan 2: 2023–2026 (the plan), which seeks to build on the first Economic Crime Plan 2019–2022 (the 2019 plan).

Due to a long period in which economic crime has not received the attention from law enforcement agencies that it arguably should have done, it is perhaps unsurprising that the growth of economic crime has continued largely unabated: £100bn is potentially laundered through and within the UK or UK-registered corporate structures each year. The plan aims to develop an improved end-to-end response to tackle money laundering, from limiting

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