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UK Gov't Reject Plans For Central 'Dirty Money' Register

Law360, London (May 8, 2019, 2:07 PM BST) -- A parliamentary committee criticized the government on Wednesday for failing to create a register of individuals linked to corruption to help reduce the amount of dirty money flowing through Britain's financial system.

Nicky Morgan, chairwoman of the Treasury Committee, said it is “disappointing” that the government rejected her panel’s plans to create a centralized list of so-called politically exposed persons — individuals with a prominent public position, and their families, who could be susceptible to bribery or corruption.

“The reality for many firms is that they lack the resources to identify all those who may be considered to be a PEP,” Morgan said....

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