The Treasury is to set out how it will implement new European laws on money laundering.
Economic secretary Ed Balls is expected to announce an easing of the current regulatory burden, combined with tougher checks on certain deals - including those involving high-ranking public officials from overseas.
A new risk-related approach will mean that "businesses and consumers in low-risk situations face fewer burdens than previously", Balls said.
The draft rules will say that employers do not have to ask staff for proof of identity before they join a pensions scheme, for example.
But watchdogs and trade bodies will also be told to increase scrutiny of thousands more firms, including estate agents, casinos and unsecured lenders.
Deals involving those considered a high risk - including some foreign leaders - will also face more stringent checks.
Speaking ahead of the Financial Service Authority's financial crime conference in London on Monday, Balls said: "These regulations will strengthen further the UK's defences against money laundering and terrorist finance.
"By taking tough and targeted new measures where the risks are greatest we will crackdown further on illegal activity and help force criminals and would-be terrorists out of the shadows.
"At the same time our regulations will ensure that businesses and consumers in low risk situations face fewer burdens than
previously."
The draft regulations are intended to implement the third money-laundering EU directive, and will be subject to consultation until April.
The finalised rules are expected to come into force in December.
http://www.epolitix.com/EN/News/200701/02bd7f1a-1d29-4c7e-b04b-b1cfb5ce40b6.htm
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