LONDON, March 1 (UPI) -- Britain launched a new plan Wednesday to combat terrorist financing and money laundering.
The plan will see law enforcement agencies, policy departments and the private sector cooperating to set up key priorities for the future as well as new measures designed to increase the use of the financial sector as a weapon against international crime and terrorism.
"Money underpins all terrorist activity. The disruption of terrorist financing is a key element of the government's overall fight against terrorism," Home Office Minister Tony McNulty said.
Economic Secretary Ed Balls said the comprehensive program sets out financial measures, supported by British-sponsored international standards, which deter crime and terrorism, detect it when it happens and holds those responsible to account.
Stephen Lander, director-general of the serious organized crime agency welcomed the strategy as a key component to combating crime.
"Tackling criminal finances and profits is central to SOCA's efforts to disrupt organized crime," Lander said.
Some of the proposed measures for combating money laundering and financial terrorism are: consultation with charities on measures to keep them safe from terrorist, exploitation, use of asset freezing powers, increase in targets for criminal asset recovery, upgrading data-sharing between the public and private sectors and simplifying identification checks among others.
