Category: Consultation

European Commission pledges to step up fight against money laundering. European Commission Vice-President Dubravka Šuica has pledged to step up the fight against money laundering, saying that planned new legislation in the New Year aims to address “shortcomings” in existing legislation. Šuica, responsible for the democracy and demography portfolio in the Commission, told MEPs, “we aim to ensure that dirty money has no place to hide in the EU. We must close the door on dirty money.” She was speaking at the Parliament’s Plenary on Thursday in a debate with members on recent money laundering revelations about how the world’s…

Consultation description At Budget 2020 the government announced its intention to introduce an economic crime levy. This consultation invites views on the design principles of the levy, and how this levy could operate in practice, to ensure that it is proportionate and effective. It has been developed to help realise the public and private sectors’ shared ambition to improve the UK’s response to economic crime. The consultation seeks views on what the levy will pay for, how it should be calculated and distributed across the anti-money laundering (AML) regulated sector, and how the levy should be collected. The consultation also…