Tag: UK Government

Napier AI has responded to a consultation from HM Treasury, the UK government's economic and finance ministry, on enhancing the effectiveness of the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These regulations require businesses to identify and prevent money laundering and terrorist financing.

Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue. 

The UK Government is diving headfirst into a comprehensive review of all regulators within its jurisdiction. Their goal? To eliminate unnecessary bureaucratic obstacles, making the most of the liberties afforded post-Brexit.

PIMFA, a significant voice in the WealthTech industry, is urging the UK Government to leverage a 'generational' opportunity to invigorate the UK retail investment market. This call to action comes six months after the introduction of the significant Edinburgh Reforms.

The UK government has passed a bill that would give it the ability to intervene in foreign direct investments that could negatively impact the country.

The government has been criticized for not giving the UK’s financial watchdog more powers.

UK financial watchdogs have made a number proposals which aim to bring cryptoassets into the regulatory fold.

The UK government has called for a greater understanding for cybersecurity risk and for advice on which solutions can safeguard users, businesses and governments.

The UK Government has unveiled a new cryptoassets task force and revealed plans to automate regulatory compliance.

HM Revenue and Customs, a department of the UK Government, is looking at how artificial intelligence could be used for compliance and complex tax cases.