[JURIST] The British government Monday released proposed money-laundering regulations that would broaden controls on businesses, politicians, and foreign officials with a view to controlling corruption, fighting crime and making financing of terrorism more difficult. The new rules would require financial institutions to investigate politicians and officials to confirm the legality of the wealth they acquire. The draft [PDF text; HM Treasury backgrounder] is an attempt to bring British regulations in line with the European Union's Third Money Laundering Directive [PDF text].

The proposed regulations are expected to go before parliament by summer; under EU law, Britain must enact the legislation by the end of 2007. Reuters has more.