Author: Dr. Angelika Hellweger 12 April 2023
Angelika Hellweger wrote a detailed analysis of the UK’s recently-published second Economic Crime Plan.
Economic Crime Plan 2 is the UK’s blueprint for reducing economic crime, protecting national security and supporting economic growth from 2023 to 2026.
In her article, which was published by Lexis Nexis, Angelika details the plan’s main areas of focus. These include reducing money laundering and fraud, recovering criminal assets, combating kleptocracy and tackling sanctions evasion. Minimising the threat international illicit finance poses to the UK, boosting law enforcement capacity by adding 475 new financial crime investigators and investment in state-of-the-art technology are also among the priorities.
Angelika outlines how the latest plan differs from its predecessor, which was for 2019-22. She also identifies which parts of the new plan may have the most impact and the main challenges that may affect how it is delivered.
She explains that while the plan sees the government committing £400 million to the plan, only 50% of that is government investment, with the remainder coming from the private sector via the recently-introduced Economic Crime (Anti-Money Laundering) Levy.
The full article can be read here (subscription required).
Angelika is a specialist in international, high-level economic crime investigations and large-scale commercial disputes. She has widely-recognised expertise in representing corporates and conglomerates in Europe, the Middle East, Africa and United States.