UK to tax financial services firms to pay for economic crime fight

UK Chancellor Rishi Sunak has confirmed that the government would bring forward a levy on financial services firms to fund action against economic crime. All groups that are subject to UK Money Laundering Regulations, which include banks, accountants, estate agents and solicitors, will be liable to pay. The Treasury said it will consult on the levy later this spring. "These reforms will help safeguard the UK's global reputation as a safe and transparent place to conduct business," the government said. The levy will be used to supplement public sector funding and will equip law enfo...