The Insolvency Service has announced ambitious and transformational plans to play a more prominent role in the fight against economic crime and be recognised as the UK’s leading authority in enforcing corporate and insolvency standards.
The strategy commits the agency to broadening its remit, taking robust action against criminals who defraud businesses and taxpayers, and using artificial intelligence and advanced analytics to combat sophisticated financial wrongdoing.
The agency will also step up efforts to tackle money laundering through hiring experts in cryptoassets, seizing more criminal proceeds of crime, and continuing to expand its intelligence functions. These teams were crucial in recent progress tackling…