UK passes new law to fight financial crimes and improve corporate transparency

The UK's new Economic Crime and Corporate Transparency Act aims to fight financial crimes like fraud and money laundering.

The law expands Companies House's ability to verify company information and remove fraudulent companies.

Law enforcement now has more power to seize and control cryptocurrencies used for illegal activities.

The Act will improve transparency around shell companies and make it harder for criminals to hide behind fake corporate identities.

Police can now seize cryptocurrencies before a court conviction if they have evidence the crypto was used illegally.