Government publishes guidance on ECCTA 2023 information sharing measures

The Government has published guidance on the information sharing measures under ECCTA 2023.

The guidance sets out:

• The policy intent of the measures – namely the disapplication of confidentiality and civil liability for sharing customer information – for the purposes of preventing, detecting or investigating economic crime – between AML regulated firms;
• How AML regulated firms can ensure they are protected by the measures when undertaking director or indirect sharing;
• Handling conditions for sharing and receiving information and undertaking law enforcement reporting;
• UK GDPR compliance; and
• Maintaining effective customer complaint processes.