Britain’s Prime Minister Borris Johnson proceeds by way of the Members’ Lobby for the State Opening of Parliament on the Palace of Westminster in London, Britain, May 10, 2022. REUTERS/Toby Melville/Pool
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LONDON, May 10 (Reuters) – British Prime Minister Boris Johnson will introduce a brand new economic crime invoice to crack down on illicit finance, wanting to strengthen legal guidelines which have empowered its Russian sanction regime and empower authorities to seize cryptocurrency belongings.
The authorities stated that the invoice could be aimed toward driving kelptocrats and soiled cash out of Britain, guaranteeing that individuals comparable to associates of Russian President Vladmir Putin don’t profit from Britain’s financial system.
“A bill will be brought forward to further strengthen powers to tackle illicit finance, reduce economic crime and help businesses grow,” Prince Charles stated in a speech on Tuesday setting out the legislative agenda of Johnson’s authorities.
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Britain in March handed an Economic Crime Act, and subsequently sanctioned tons of of Russian people and entities, catching up with comparable measures imposed by the European Union and United States. learn extra
The authorities stated that the brand new invoice would construct on that act by introducing identification verification for individuals who management corporations within the United Kingdom, bettering the reliability of knowledge held by the Registrar of Companies and giving Companies House simpler investigation and enforcement.
It additionally stated the invoice would empower authorities to extra rapidly and simply seize and get well crypto belongings.
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Reporting by Alistair Smout. Editing by Andrew MacAskill
Our Standards: The Thomson Reuters Trust Principles.
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