Crypto firms, wealth management companies, and retail and wholesale banking remain “particularly vulnerable” to financial crime, according to a U.K. Treasury report.
Crypto firms were listed alongside retail banking, wholesale banking, and wealth management companies.The report showed between 2022 and 2023, there were a total of 52.8 full-time specialist employees overseeing Anti-Money Laundering cases, with nearly one-third focused specifically on supervising crypto firms.
Source: News Formal (newsformal.com)
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