The cross-party parliamentary group which includes regulators and industry members presents four principles for pragmatic reform to ‘clean’ the UK financial sector:
- Transparency: Identify company, trust, and asset to allow law enforcement and members of the public alike to ‘follow the money’;
- Regulation: Implement pragmatic regulations to deter professionals from facilitating economic crime and hold those who do engage in malpractice accountable;
- Enforcement: Bolster the capabilities and resources of enforcement agencies to ensure consistent enforcement; and
- Accountability: Ensure that parliament and the public are able to hold the Government to account by implementing transparency measures to guard against political corruption.
Firms can study the latest manifesto for insights on the current state of economic crime in the UK, and the potential operational impacts arising from parliamentary objectives and proposals.
Fraud
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