Anti-Financial Crime & Financial Crime Compliance
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AML, Banking, Compliance, Financial Crime, Fraud, Regulatory, UK

NEWS: Using frozen cash to fight money laundering could leave us with ‘double liability’ – UK banks

By AML Intelligence Correspondents BRITISH banks fear exposure to double liability by using money in frozen “criminal” bank accounts to fight money laundering and fraud. The UK’s Criminal Justice Bill’s “suspended accounts scheme” allows for the transfer of frozen funds to the state to counter economic crime. Financial institutions have been calling for such an…

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