| Link(s): Economic crime plan 2019 to 2022 |
Context
HM Treasury has published its Economic Crime Plan: Statement of Progress.
The plan provides information on action being taken by the public and private sectors to ensure that the UK cannot be abused for economic crime.
Key points to note
The economic crime plan sets out 7 priority areas which were agreed in January 2019 by the Economic Crime Strategic Board, the ministerial level public-private board charged with setting the UK’s strategic priorities for combatting economic crime. These areas are:
- Develop a better understanding of the threat posed by economic crime and our performance in combatting economic crime.
- Pursue better sharing and usage of information to combat economic crime within and between the public and private sectors across all participants.
- Ensure the powers, procedures and tools of law enforcement, the justice system and the private sector are as effective as possible.
- Strengthen the capabilities of law enforcement, the justice system and private sector to detect, deter and disrupt economic crime.
- Build greater resilience to economic crime by enhancing the management of economic crime risk in the private sector and the risk-based approach to supervision.
- Improve our systems for transparency of ownership of legal entities and legal arrangements.
- Deliver an ambitious international strategy to enhance security, prosperity and the UK’s global influence.
Next actions
None – for information and awareness.