Bill to target tax evasion and money laundering
New powers to clamp down on tax evasion and money laundering have been unveiled in the Queen's Speech.
The Criminal Fin ances Bill will make it an offence for companies to fail to stop staff facilitating tax evasion.
The measures are also aimed at making it easier for the courts to recover criminal assets.
The system of Suspicious Activity Reports (SARs) is to be improved to better use public and private resources, ministers said.
More than 350,000 SARs were filed with the UK Finance Unit and National Crime Agency last year, with the Government recovering £224 million from money laundering and terrorist financing in 2015-16.