The plan announces the Government’s objectives to:
- Reduce money laundering and recover more criminal assets;
- Combat kleptocracy and drive down sanctions evasion;
- Cut fraud;
- Reduce the threat international illicit finance poses to the UK and UK interests;
- Underpin system reforms and capabilities.
To deliver the Government objectives, significant measures will be taken, including:
- The appointment of 475 financial crime investigators, targeting money laundering and asset recovery;
- A new ‘Crypto Cell’ combining law enforcement agencies and regulators to tackle the criminal abuse of cryptoassets;
- An expanded “Combatting Kleptocracy” cell to target corrupt elites, their money and enablers;
- A new approach to public-private prioritisation aimed at maximising the sharing of resources to prevent, detect and disrupt economic crime;
- The ambitious reform of the UK’s supervisory regime to encourage greater information and intelligence sharing;
- New state-of-the-art technology that would provide law enforcement with greater information access;