PRIMER: UK's Economic Crime Bill

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Previously, if a bank exited a customer relationship because they think that customer is laundering money or engaged in some kind of illegal activity, if they passed that information on to another bank, there was always a risk of the bank being sued for breach of confidentiality,” said Kathryn Westmore, senior research fellow at Royal United States Institute (RUSI). “This bill removes that risk, and the aim is to create a more permissive environment for banks to share information about their customers.”