UK Govt updates Guidance on Information Sharing measures in the ECCTA 2023, streamlining safe information sharing with stronger confidentiality, data protection, and compliance measures

The revised guidance clarifies that AML-regulated firms can directly or indirectly share customer information to prevent, detect, or investigate economic crime (as defined in ECCTA Schedule 11) without breaching confidentiality or incurring civil liability, while excluding privileged information or GDPR-protected data, and allows the Secretary of State to extend these sharing provisions to additional businesses…