Economic Crime Act 2022

The Economic Crime Act 2022 is legislation in the UK designed to strengthen the fight against financial crimes such as money laundering, fraud, and corruption. It introduces measures like new powers for authorities to investigate and seize assets linked to criminal activity more effectively, enhances transparency by requiring companies to disclose beneficial ownership information, and updates existing laws to close loopholes. The aim is to deter economic crimes, improve enforcement, and protect the integrity of the financial system.