UK 'Still Lacking' On Ability To Probe Suspicious Finance

By Irene Madongo (June 10, 2022, 3:52 PM BST) -- Britain has taken some steps to bolster its unit for analyzing suspect transactions, but the agency still lacks the resources needed to operate robustly, a global anti-money laundering body has found.

The Financial Action Task Force raised concerns about the financial intelligence unit, or FIU, in a follow-up report published on Thursday, based on its 2018 evaluation of Britain's AML and counter-terrorist financing regime.

The Paris-based body's follow-up noted an increase in staffing levels at the unit, which receives and analyzes suspicious activity reports, or SARs, from firms such as banks and estate agents.  

"However, the expansion from 81 to...

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