By AML Intelligence Correspondents BRITAIN’s Treasury today (Monday) proposed ways to ease the burden of AML checks applied by banks, and reflect the impact of Brexit and emergence of new financial activities such as cryptoassets. The rules are used by 100,000 businesses such as banks, accountants, lawyers, estate agents, and casinos to undertake KYC initial…
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LATEST: Britain’s Treasury consults with banks on easing burden of AML checks

UK AML: British Treasury Minister Baroness Vere (pictured) launched the consultation today. She said: "A key principle in the MLRs is proportionality. Where there is room to find a better balance between what we ask of regulated firms and customers, and the risk of money laundering and terrorist financing, then we want to seek to address this."