Plan to crack down on £90bn City money laundering

Tom Keatinge, director of the centre for financial crime and security studies at the think-tank RUSI, said that, while the revised strategy was welcome, it represented “a shocking admission of the systemic shortcomings in the UK’s ability to combat financial and economic crime”. He added: “Given the government’s willingness to match rhetoric with investment in resources has typically proved patchy, we will watch with interest for evidence of the results of this latest initiative.”