United Kingdom: Introduced Economic Crime and Corporate Transparency Act

On 22 September 2022, the Economic Crime and Corporate Transparency Bill was introduced in the House of Commons. The Bill includes provisions addressing economic crime and outlines requirements to increase corporate transparency. The Bill includes measures that would grant broader powers to law enforcement authorities, enabling them to confiscate and reclaim cryptoassets that are related to criminal activities such as money laundering, fraud and ransomware attacks.