Anti-money laundering and counter-terrorist financing—issues for financial services firms

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Anti-money laundering and counter-terrorist financing—issues for financial services firms guidance:

This Practice Note explains counter-terrorist financing (CTF), including the offences and obligations contained in the Terrorism Act 2000 (TA 2000) and related...

Practice Note

ARCHIVED: This archived Practice Note is not being maintained. It tracked the passage of the Bill through Parliament to its publication as an Act, and highlighted key...

Practice Note

ARCHIVED: This archived Practice Note is not being maintained. The Money Laundering Regulations 2007, SI 2007/2157, (MLR 2007, SI 2007/2157) were revoked and replaced by...

Practice Note

This Practice Note discusses the two ‘failure to prevent’ corporate criminal offences created by the Criminal Finances Act 2017 (CFA 2017): • CFA 2017, s 45 creates the...

Practice Note

This Practice Note introduces the Financial Action Task Force (FATF) and its work in relation to setting standards and promoting adoption and use of legal, regulatory and...

Practice Note

ARCHIVED: This archived Practice Note is being retained to assist those advising on investigations and prosecutions for offences under MLR 2007, SI 2007/2157. The Money...

Practice Note

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (2017 MLRs), which implement the Fourth Money...

Practice Note

Adoption of MLD5 On 19 April 2018, the European Parliament voted to adopt the Fifth Money Laundering Directive (MLD5), which amends the Fourth Money Laundering Directive...

Practice Note

The Fourth Money Laundering Directive (MLD4) was formally adopted by the Council of the EU (the Council) in May 2015 after lengthy and interesting negotiations. Every...

Practice Note

Background to MLD4 The Fourth Anti-Money Laundering Directive (EU) 2015/849 (MLD4) was adopted by the European Parliament on 20 May 2015, becoming effective on 25 June...

Practice Note

Reporting money laundering under the Proceeds of Crime Act 2002 (POCA 2002) The Money Laundering Regulations Businesses regulated by the Money Laundering Regulations...

Practice Note

FORTHCOMING CHANGE: The Sanctions and Anti-Money Laundering Act 2018 (SAMLA 2018), which received Royal Assent on 23 May 2018, provides a power for Ministers to make...

Practice Note

Privilege is a vital consideration when deciding whether to make a suspicious activity report (SAR) to the National Crime Agency (NCA) under the relevant provisions of...

Practice Note

This Practice Note deals with the amendments to the Proceeds of Crime Act 2002 (POCA 2002) by the Criminal Finances Act 2017 (CFA 2017). Specifically, it details the...

Practice Note

The Second Wire Transfer Regulation (EU) 2015/847 (WTR2) entered into force on 26 June 2017, together with the Fourth Money Laundering Directive (EU) 2015/849 (MLD4)....

Practice Note

The requirements to have robust systems and controls in a regulated firm to prevent money laundering originate from: • the Money Laundering, Terrorist...

Practice Note

This Practice Note provides a guide to the elements of the UK anti-money laundering (AML) and counter-terrorist financing (CFT) regulatory regime as it applies to...

Practice Note

The roles of nominated officer and money laundering reporting officer A nominated officer is an individual who is nominated by a firm to receive disclosures under Part 7...

Practice Note

What are crypto-assets? One of the hurdles in relation to understanding non-traditional currencies and assets lies in the inconsistent use of language. Regulators and tax...

Practice Note