Webinar highlights changes to anti-money laundering regulations
25 October 2017
A webinar about the new regulations on money laundering which were introduced in June 2017 has been published by HMRC.
The money laundering, terrorist financing and transfer of funds (information on the payer) regulations 2017 implement the EU 4th money laundering directive and complement work across government to strengthen UK defences and deliver on the 2016 Action Plan for anti-money laundering and counter-terrorist finance.
This includes the Criminal Finances Act, which will give law enforcement further capabilities and powers to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism.
Businesses such as banks, estate agents, accountants and payment firms will have to carry out stringent and targeted checks to make sure that money changing hands is from a legitimate source and will not be used to fund terror acts.
New webinar highlights changes
HMRC has a host of webinars and online courses to help businesses with anti-money laundering. Most of the webinars were presented before new regulations on money laundering were introduced in June 2017 and the majority of the information remains up to date, but some of the issues covered will be affected by those regulations.