The UK government has released plans that propose the consolidation of anti-money laundering (AML) responsibilities into a unified entity in the country. It presents four possible designs, and the final decision could have ramifications for the UK Gambling Commission (UKGC).
The UK government’s HM Treasury recently unveiled a new plan on June 30 that aims to overhaul the oversight of AML and counter-terrorist financing (CTF) in the country. The proposed changes primarily focus on regulating how businesses should address requirements, rather than modifying the requirements themselves. A separate review is scheduled to assess that possibility.
There are four possibilities that the treasury department has put on the table. It will now open the floor to feedback and comments, allowing input until the end of September.
The UK government’s HM Treasury recently unveiled a new plan on June 30 that aims to overhaul the oversight of AML and counter-terrorist financing (CTF) in the country. The proposed changes primarily focus on regulating how businesses should address requirements, rather than modifying the requirements themselves. A separate review is scheduled to assess that possibility.
There are four possibilities that the treasury department has put on the table. It will now open the floor to feedback and comments, allowing input until the end of September.