Financial services
Latest money laundering and terrorist financing news
The counter illicit finance team offers a subscription facility for notification by e-mail when anti-money laundering (AML) or counter terrorist financing (CTF) announcements are made by HM Treasury.
23 November 2011:
HM Treasury published a summary of the responses on proposed changes to the Money Laundering Regulations 2007. The consultation ran from 7 June to 30 August 2011.
The Government received seventy two responses from a wide range of stakeholders including Supervisors, law enforcement bodies, professional bodies, regulated businesses, private individuals and non-governmental organisations. The summary of responses also sets out the timeframe for the publication of the Government’s response to the Consultation.
11 November 2011:
1 August 2011: HM Treasury published a consultation UK enforcement measures for EU counterfeit Euros regulations
HM Treasury published a consultation on proposals for implementing enforcement measures in the UK as required by EU Regulations 44/2009 and 45/2009, which require certain businesses that accept Euros to check for counterfeits before putting them back into circulation.The consultation closes on 1 November 2011. Views are sought on the proposal to introduce a new criminal penalty rather than a new regulatory regime.
15 November 2011: HM Treasury issues Financial sector advisory notice
HM Treasury issued a Financial Sector Advisory Notice today regarding the risks posed by unsatisfactory money laundering controls in a number of jurisdictions.
The Money Laundering Regulations 2007 require firms to put in place policies, procedures or systems in order to prevent money laundering or terrorist financing.
This advice supersedes previous advice issued by HM Treasury in connection with deficiencies in these areas.
7 June 2011:
HM Treasury published the Government response to its review of the Money Laundering Regulations, including a consultation on proposals for changes to the regulations and a pre-consultation impact assessment.
The consultation will run from 7 June until 30 August 2011.
Views are sought in order to develop a robust impact assessment and ensure the proposals contribute to a more effective and proportionate regime.
- Read full details about the Government response to its review of Money Laundering Regulations
- Press notice: Government publishes consultation on changes to Money Laundering Regulations 2007
27 October 2010:
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