GovWire

The Economic Crime and Corporate Transparency Act 2023 allows the direct and indirect sharing of information between businesses in the anti-money laundering regulated sector in order to prevent, detect and facilitate the investigation of economic crime.

The guidance sets out:

• provisions to ensure that businesses abide by the new measures
• practical considerations for businesses including mechanisms for cross-sector sharing
• requirements for law enforcement reporting, UK GDPR compliance, and customer redress