U.K. Banks Face Money Laundering Crackdown Under Cameron
- Premier announces plan to coincide with anti-corruption summit
- Law would be extension of proposals to fight tax evasion
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Prime Minister David Cameron said the U.K. plans to make financial services companies liable for their employees’ complicity in money laundering and fraud, in an extension of proposed laws against tax evasion.
Announced to coincide with an anti-corruption summit in London on Thursday, Cameron said the developed world must “get its house in order” and gave further details of a register of owners of high-value properties in London to prevent it being used as a hiding place for plundered money.