Statutory Instrument No 2157 of 2007 introduced the Money Laundering Regulations 2007 in Great Britain and Northern Ireland.
The regulations implement the EU Directive 2005/60 on the prevention of money laundering and terrorist financing.
The CCAB, of which Chartered Accountants Ireland is a member, have issued the CCAB Money Laundering Guidance.
The UK supervisory bodies have also issued Money Laundering: Supplementary Guidance for the Tax Practitioner which can be read as an appendix to the CCAB Money Laundering Guidance.
SARs - Top Ten Tips for the Accountancy Sector
The confidentiality of Suspicious Activity Reports to the Serious Organised Crime Agency (SOCA) is still a live issue. The Accountants Affinity Group within the Anti-Money Laundering Supervisors Forum has recently recommended that members be reminded of guidance available on this subject.
To view a technical release on the confidentiality of SARs kindly made available by the ICAEW click here.
The Institute has also provided a pamphlet for firms to issue to their clients Anti-Money Laundering: Your accountants obligations under UK Anti-Money Laundering legislation.
Guidance in the form of FAQ's has also been prepared by the Institute.
In addition, the APB has issued PN12 (revised).
The Financial Services Authority (FSA) has published a number of documents of interest. Click here to view.
HM Treasury has issued a Review of the Money Laundering Regulations 2007. This Paper is a Government response to the 2009/2010 Review of the Money Laundering Regulations 2007. It includes a series of consultative proposals to amend the 2007 Regulations. To view the Consultation Paper click here.