An Anti-Money Laundering Timeline and the Relentless Regulatory Response

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (‘MLR 2017’) came into force on 26 June 2017, further increasing anti-money laundering (AML) compliance obligations imposed upon financial institutions and others in the UK. Against this backd...

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Bibliographic Details
Published in:Journal of criminal law (Hertford) 2018-06, Vol.82 (3), p.215-231
Main Authors: Turner, Sue, Bainbridge, Jonathan
Format: Article
Language:English
Subjects:
Compliance
Criminal law
Financial institutions
Financing
Money laundering
National security
Policy making
Private sector
Regulation
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Summary:The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (‘MLR 2017’) came into force on 26 June 2017, further increasing anti-money laundering (AML) compliance obligations imposed upon financial institutions and others in the UK. Against this backdrop, this article will identify a growing trend of AML policy-making affecting the private sector; explore the correlation of legislative and regulatory measures taken in the UK with those in Europe and globally; and ask whether the measures represent a proportionate and effective response to the perceived threat of money laundering and terrorist financing to national security.
ISSN:0022-0183
1740-5580
DOI:10.1177/0022018318773205