In 2020, the Intelligence and Security Select Committee produced a report on Russia which labelled London a ‘laundromat’ for corrupt money. A memorable label reflective of a much broader issue. The impact of financial crime on our society.
Despite having one of the toughest regulatory eco-systems for combatting money laundering and wider financial crime - the annual cost of such activities to the UK economy is estimated to be around £37 billion.
But things could be about to improve. Subtle but highly significant developments in the latest iteration of the Economic Crime & Corporate Transparency Bill, are poised to change the way banks and other regulated financial institutions communicate when it comes to suspicious customer activity.
Read on to learn about what’s changed, what this means for peer-to-peer financial crime data sharing, and why this is good news in the fight against financial crime.
It’s time to talk.
Related articles:
Synectics solutions, Synectics, News
Moving to our new office in 2016
Tuesday, December 29, 2015
Read moreBanking & finance
Do you have the ability to combat organised fraud networks?
Saturday, November 21, 2020
Read moreInterested?
Let us prove how we can help you. Click the button below for more details.
Find out more