The UK government says it will introduce a levy to be paid by certain firms to tackle money laundering.
The new funding is additional to ongoing public sector funding and will be targeted at illicit financial flows.
The funds aim to ensure delivery of the reforms committed to in the Economic Crime Plan (ECP).
The levy will be paid by groups subject to UK money laundering regulations, including banks, accountants, estate agents and solicitors.
It will fund additional efforts to prevent international criminals laundering money through UK-registered shell companies.
The ECP contemplates investing in new technologies for law enforcement and for hiring more financial crime investigators.
More details are expected to be revealed about the application of these new funds after the government publishes a consultation paper on the levy later this year.
Categories: Trade Based Financial crimes News