This Overview is a guide to the Lexis+® UK Financial Services subtopic: ‘Anti-money laundering and counter-terrorist financing (AML/CTF)’ and includes links to the appropriate materials. AML/CTF requirements have general application; this subtopic considers the application the UK’s anti-money laundering (AML), counter-terrorist financing (CTF) and counter proliferation financing (CPF) legal and regulatory regime to firms authorised by the Financial Conduct Authority (FCA) under the Financial Services and Markets Act 2000 (FSMA 2000) or firms registered with the FCA for supervision under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs).
Further Lexis+® UK Financial Services subtopics addressing financial crime are: Sanctions compliance—overview, Anti-bribery and corruption (ABC)—overview and Fraud in financial services—overview.
Money laundering (ML) is the process by which the proceeds of crime are converted into assets which appear to have a legitimate origin in order that they can be retained permanently or recycled into further criminal enterprises.
In general terms, terrorist financing (TF) is the provision or collection of funds from legitimate...
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