The Prime Minister will be hosting the Anti-Corruption Summit on 12 May 2016 to help expose, punish and drive out corruption. The summit will be the first of its kind bringing together world leaders to prepare a global response to tackle corruption.

Ahead of the summit the Home Secretary, Theresa May has set out a new action plan which will make the most significant changes to the UK’s anti-money laundering and terrorist finance regime in over a decade.

The new action plan sets out 3 priorities:

• an enhanced law enforcement response to the threats we face - that means building new capabilities in our law enforcement agencies and creating tough new legal powers to enable the relentless disruption of criminals and terrorists;
• reform of the supervisory regime to ensure that it is consistent, effective and brings those few companies who facilitate or enable money laundering to task;
• increase the international reach of law enforcement agencies and international information sharing to tackle money laundering and terrorist financing threats.

The Home Secretary, Theresa May said:

'Britain’s world leading financial system is at risk of being undermined by money laundering, illicit finance and the funding of terrorism. The laundering of proceeds of crime through UK institutions is not only a financial crime, it fuels political instability around the world, supports terrorists and extremism and poses a direct and immediate threat to our domestic security and our overseas interests.'