The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (SI 2017 No. 692)
The new regulations were laid before Parliament on 22 June 2017 and came into force on 26 June 2017.
The Money Laundering Regulations 2017 consultation was published on 15 March 2017. It comprises a consultation on draft regulations and the response to a 2016 consultation on the transposition of the Fourth Money Laundering Directive (4MLD) and the Fund Transfer Regulation (FTR).
The Serious Crime Act 2015 received from Royal Assent on 3 March 2015. It modified the Proceeds of Crime Act 2002 in a number of ways, including protection from civil liability for firms making authorized money laundering disclosures.
The Crime and Courts Act 2013 received Royal Assent on 25 April 2013. It established the National Crime Agency (NCA) which replaced the Serious Organised Crime Agency (SOCA) and took over its responsibilities for investigating money laundering and terrorist financing.
The Terrorism Act 2000 and Proceeds of Crime Act 2002 (Amendment) Regulations 2007 (SI 2007 No. 3398)(12 pages, PDF) were laid before Parliament on 5th December 2007 and came into effect on 26th December 2007. An explanatory memorandum has been published which explains how these regulations regulations update the Terrorism Act 2000 and the Proceeds of Crime Act 2002, completing the implementation of the third money laundering directive.
The Money Laundering Regulations 2007 (SI 2007 No. 2157) (48 pages, PDF) were published on 25 July 2007 and took effect from 15 December 2007. The Money Laundering Regulations 2007 replaced the Money Laundering Regulations 2003. The explanatory memorandum to the regulations has also been made available online.
The Terrorism Act 2000 (Business in the Regulated Sector and Supervisory Authorities) Order 2007 (SI 2007 No. 3288) and the Proceeds of Crime Act 2002 (Business in the Regulated Sector and Supervisory Authorities) Order 2007 (SI 2007 No. 3287) also came into effect on 15th December 2007. Further information about the legislative background to each statutory instrument is given in the Explanatory Memorandum - SI 2007 No. 3287 and in the Explanatory Memorandum - SI 2007 No. 3288.
The Terrorism Act 2006 received royal assent on 30 March 2006.
The Serious Organised Crime and Police Act 2005 established Serious Organised Crime Agency (SOCA).
The Money Laundering Regulations 2003 (SI 2003/3075) were published on 2nd January 2004. The Proceeds of Crime Act 2002 (Business in the Regulated Sector and Supervisory Authorities) Order 2003 (SI 2003/3074) and the Terrorism Act 2000 (Business in the Regulated Sector and Supervisory Authorities) Order 2003 (SI 2003/3076) were published at the same time. The Treasury website stated that the publication of the regulations 'complete the implementation in the UK of the 2nd EC Money Laundering Directive, agreed in December 2001'. The regulations came into full effect on 1st March 2004 (as announced in the Treasury's press release).
The Proceeds of Crime Act 2002 received royal assent on 24 July 2002.
The Anti-terrorism, Crime and Security Act 2001 received royal assent on 14 December 2001.
The Money Laundering Regulations 2001 (SI 2001/3641) were laid before parliament on 9 November 2001.
The Terrorism Act 2000 received royal assent on 20 July 2000. This act was later amended by the Anti-terrorism, Crime and Security Act 2001 and the Terrorism Act 2006.
The Money Laundering Regulations 1993 (SI 1993/1933) were laid before parliament on 29 July 1993 and came into effect on 1 April 1994.
Money Laundering Regulations 2017
Overview of the new regulations from ICAEW.
Preventing money laundering (HM Treasury)
Guidance from GOV.UK on how the Home Office and Treasury implement anti-money laundering policy in the UK.
Counter terrorist finance strategy (HM Treasury)
Describes the measures taken by the UK's public and private sectors to detect, deter and disrupt terrorists who attempt to use the financial system. Includes links to relevant legislation and the Quarterly report to Parliamenton the UK's counter-terrorist asset freezing regime.
Money Laundering Regulations (HMRC)
Information on the Money Laundering Regulations which explains which businesses need to register with HMRC.
Money laundering and terrorist financing (FCA)
Information on money laundering from the Financial Conduct Authority (FCA).
Serious Crime Act 2015: Fact Sheet (Home Office)
Overview of the Act and its provisions, including the modification of the Proceeds of the Crime Act.