Economic Crime Plan 2 will strengthen UK's response to illicit finance

The government’s Economic Crime Plan 2 will strengthen the UK’s global response to economic crime, the Law Society of England and Wales said today.

Our president Lubna Shuja said: “We note the importance of the government’s focus on tackling illicit finance in the UK.

“Solicitors continue to play an important role in the public-private partnership in tackling economic crime.

“Through 43 actions, the Plan sets out how the public and private sectors can work together to reduce money laundering, recover more criminal assets, combat kleptocracy, drive down sanctions evasion and cut fraud.

“The profession invests significant resources in tackling money laundering and financial crime.

“We look forward to continuing our work with the government to deliver the plan through a new approach to public-private prioritisation. This includes joint priorities to maximise public and private resources to prevent, detect and disrupt economic crime, as well as the ambitious reform of the UK’s supervisory regime.

“Encouraging greater information and intelligence sharing will also help to better identify and target criminality to ensure that the UK is a hostile place for illicit finance.”

Notes to editors

Read the Law Society’s Anti-Money Laundering page

Read the government’s Economic Crime Plan 2

About the Law Society

The Law Society is the independent professional body that works globally to support and represent solicitors, promoting the highest professional standards, the public interest and the rule of law.

Press office contact: Naomi Jeffreys | 020 8049 3928