New anti-money laundering regulations now in effect

On 26 June, the The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 692 of 2017), colloquially known as the Money Laundering Regulations 2017 (MLR), became law. 

These regulations bring the European Fourth Money Laundering Directive (Directive EU 2015/849 of 20 May 2015) into UK law.

ICAEW has published an overview of the new regulations.

The detailed CCAB guidance including the tax sector guidance is being updated and will be sent for Treasury approval.

Meanwhile HMRC has updated some of its guidance, most of which is aimed at businesses that it supervises. We have a compiled a list of the HMRC anti-money-laundering updated guidance:

List of HMRC anti-money-laundering guidance updated at 26 June 2017.pdf
Anonymous