The UK Financial Conduct Authority recently announced that it will collect Treasury’s economic crime levy (Anti-Money Laundering) from July 2023 .An allocation of £300 million between 2023/24-2025/26 generated from the levy was confirmed in the House of Lords on 27 March 2023. The funding will be allocated for services such as state of the art technology to analyse and share data on threats, hire of new investigators and training of existing ones, new specialist intelligence teams, officers and new financial investigators to analyse suspicious activity reports and a dedicated team to reform the AML supervisory regime .Also ,£20 million will be invested in Companies House and the Insolvency Service to fund the creation of two new intelligence teams and £600,000 to deploy UK experts overseas to raise the global standards on beneficial ownership.
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