Transposition of the Fourth Money Laundering Directive
Detail of outcome
This consultation has now closed. A further consultation providing an update on these proposals, as well as draft Money Laundering Regulations 2017, has been published. The government would welcome views on whether the draft regulations deliver the policy intent by 12 April.
Original consultation
Consultation description
This consultation invites views and evidence to inform government transposition of the Fourth Money Laundering Directive and the Fund Transfer Regulation.
The directive seeks to give effect to updated international anti-money laundering and counter-financing of terrorism (AML/CFT) standards set by the Financial Action Task Force. The directive is accompanied by the Fund Transfer Regulation, which updates rules on information accompanying transfers of funds, and which will come into force from June 2017.
The government is keen to ensure that the UK’s AML/CFT regime effectively deters money laundering and terrorist financing activity, whilst being proportionate and managing burdens on businesses.
Documents
Last updated 17 March 2017 + show all updates
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Consultation update added.
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Updated to include the Impact Assessent
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First published.