Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Statutory Instrument 2022
Read the full outcome
Detail of outcome
皇冠体育app government conducted a consultation between 22 July-14 October 2021, inviting views and evidence on the steps the government proposed to take to amend the Money Laundering Regulations (MLRs). 皇冠体育app response to the consultation summarises views from responses to the consultation and sets out the findings and the decisions the government has taken as a result. Many of these changes will be implemented through the Money Laundering and Terrorist Financing (Amendment) (No.2) Regulations 2022 Statutory Instrument.
Original consultation
Consultation description
This consultation invites views and evidence on the steps that the government proposes to take to amend the Money Laundering Regulations (MLRs).
皇冠体育appse amendments will allow the government to make some time-sensitive updates to the MLRs, which are required to ensure that the UK continues to meet international standards set by the Financial Action Task Force, whilst also strengthening and ensuring clarity on how the anti-money laundering regime operates, following feedback from industry and supervisors on the implementation of the Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020.
皇冠体育app government is keen to ensure that the UK鈥檚 anti-money laundering and counter terrorist financing regime effectively deters money laundering and terrorist financing activity, whilst being proportionate and managing burdens on businesses.
A call for evidence on the review of the UK鈥檚 AML/CTF regulatory and supervisory regime will be run in parallel to this consultation.
Documents
Updates to this page
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皇冠体育app Money Laundering and Terrorist Financing (Amendment) (No.2) Regulations 2022 鈥� Impact Assessment added
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Consultation response added
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First published.