The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (Money Laundering Regulations 2017 or MLR 2017), SI 2017/692 came into force on 26 June 2017. The MLR 2017 replace the Money Laundering Regulations 2007, SI 2007/2157, and give effect to Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (sometimes known as the Fourth Money Laundering Directive or MLD4) which took effect from 26 June 2017. This Practice Note considers the key provisions of MLR 2017 in so far as the regulations give rise to potential criminal liability. It sets out the offences under the MLR 2017 and sentences which can be imposed on conviction. It also summarises key regulator guidance on the MLR 2017 and introduces the oversight of non-statutory, professional body money laundering supervisors by the Office for Professional Body Anti-Money Laundering Supervision (OPBAS). The Practice Note incorporates amendments by the Money Laundering and Terrorist Financing (Miscellaneous Amendments) Regulations 2018, SI 2018/1337 and the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, SI 2019/1511, as well as the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020, SI 2020/991 which reflect Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directive 2009/138/EC and Directive 2013/36/EU (the Fifth Money Laundering Directive, known as MLD5). MLR 2017 will be amended on Exit Day by instruments made in exercise of the powers in section 8(1) of the European Union (Withdrawal) Act 2018.