Consultation outcome

Anti-money laundering and counter-terrorist finance: legislative proposals

This consultation has concluded

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Detail of outcome

After considering all contributions to the consultation we have now published our response this this consultation.

Original consultation

Summary

We are seeking views on proposals to reform the suspicious activity reports (SARs) regime.

This consultation ran from
to

Consultation description

The government is seeking views on the change in focus of the suspicious activity reports (SARs) regime to entities responsible for money laundering and terrorist financing.

The action plan for anti-money laundering and counter-terrorist finance contains a number of proposals on which we wish to consult, as they will involve potential changes to legislation.

Some of the proposals include:

  • new ways to improve data sharing between private sector organisations
  • the creation of new powers to allow money to be seized
  • the requirement for individuals to declare their sources of wealth

Documents

Published 21 April 2016
Last updated 13 October 2016 + show all updates
  1. Government response published.
  2. First published.