AML regulated? Here’s how the new Economic Crime Levy will impact your business
The Economic Crime (Anti-Money Laundering) Levy has been developed in the hope of creating a long-term Sustainable Resourcing Model (SRM) to tackle economic crime in the UK. This is part of the objectives which were previously outlined in the Economic Crime Plan (ECP).
This initiative has been created by the UK government as they feel entities who are AML regulated should be the primary contributors to the reform, which in turn will create a safer financial market for the UK to conduct business within.
Learn more on who will be affected by this new levy and why flexibility of a contingent resource will be key.