ANTI- MONEY LAUNDERING SPECIALISTS

There are far reaching changes to anti-Money Laundering rules which significantly increase the scope of money laundering offences and thereby the risks to businesses in the regulated sector, including potentially lengthy prison terms. We are experts in the new rules and can help banks, other financial institutions such as insurance companies and investment managers and other businesses affected by the new rules (such as accountants, solicitors and estate agents) to develop practical solutions to address the significant risks.

The new legislation comprises: Part 7 of the Proceeds of Crime Act 2002 (“POCA”) which came into force on 24 February 2003. In June 2003 the Money Laundering Regulations 2003 replace the 1993 Regulations, implementing the Second Money Laundering Directive of 2001. Revised Guidance Notes issued by the Joint Money Laundering Steering Group. The FSA Money Laundering Sourcebook.