Government responds to anti-money laundering recommendations

The Government has published its response to the Law Commission’s anti-money laundering report. Of the 19 recommendations made, the Government has accepted, or partially accepted, 13 of them.

The original report looked at the existing law around reporting suspicious financial activity. This provides law enforcement with the means to investigate and gather intelligence and protects honest businesses from inadvertently committing a crime. But the reporting scheme isn’t working as well as it should. Enforcement agencies are struggling with a significant number of low-quality reports, and criminals could be slipping through the net.

The Government’s response is available here, and the Law Commission’s report and final recommendations are available here.