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MONEY LAUNDERING REGULATIONS

The Money Laundering Regulations 2003 were laid before Parliament together with amending orders for the Proceeds of Crime Act and the Terrorism Act.  The Regulations came into force on 1 March 2004.

REGULATIONS

Copies of the Regulations are available from Office of Public Sector Information (OPSI) website.  For convenience we have provided links below;

The Money Laundering Regulations 2003
Statutory Instrument 2003 No. 3075

The Terrorism Act 2000 (Business in the Regulated Sector and Supervisory Authorities)
Statutory Instrument 2003 No. 3067

Proceeds of Crime Act 2002 (Business in the Regulated Sector and Supervisory Authorities)
Statutory Instrument 2003 No. 3074

USEFUL REFERENCE LINKS

The Law Society of England & Wales has its own Money Laundering Task Force which monitors all legislative and regulatory anti-money laundering requirements affecting solicitors and their clients, in the UK, in Europe and internationally.  Follow the link for guidance, news and reference sources on anti-money laundering.  The Law Society also produce and anti-money laundering newsletter called Gatekeeper which is free to subscribe.

Money Laundering Advice - Important Change (November 2006)

The Law Society Regulation Board, which will become known as the Solicitors Regulation Authority from 2007, has brought the provision of money laundering advice and guidance within the ambit of the Professional Ethics helpline, instead of it being offered by a separate service.

All solicitors requiring money laundering guidance should now refer to the Professional Ethics helpline on 0870 606 2577.

The Law Society provides several services dedicated to assisting solicitors with their anti-money laundering compliance.

The HM Customs & Excise website includes a money laundering regulation page which provides useful information. 

The HM Treasury website provides a useful reference section on money laundering.

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