"Terrorist financing and money laundering are significant threat to our national security, and we are determined to make the UK a hostile environment for illicit finance," Stephen Barclay, economic secretary to the Treasury, said in a statement. "These new rules will tighten our defences, protect the integrity of our financial system and help protect the British public from terror attacks and criminal activities."
Britain has suffered a series of attacks in recent months, with 35 people killed by Islamists in London and Manchester, while a man killed one and injured several others when he drove a van into Muslim worshippers leaving a London mosque.
Copyright Reuters, 2017