Solidify UK digital ID rules to boost AML, techUK urges Treasury

Digital identity has a critical role to play in combating money laundering, and the UK government’s Digital Identity and Attributes Trust Framework (DIATF) urgently needs legal backing, according to trade association techUK. The group was responding to HM Treasury’s (HMT’s) consultation on enhancing the Kingdom’s anti-money laundering regulations.

On March 11, 2024, HMT launched a consultation to improve the effectiveness of the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017. These regulations are crucial …

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