What laws are there to prevent money laundering?
The Third Money Laundering Directive was adopted in October 2005 under the UK’s Presidency of the European Union. It represents Europe’s ongoing commitment to tackle the international problem of money laundering and terrorist financing by implementing the global standards produced by the Financial Action Task Force (FATF) in 2003. Please see the Money Laundering Regulations 2007 for further information.
The Third Money Laundering Directive was adopted in October 2005 under the UK’s Presidency of the European Union. It represents Europe’s ongoing commitment to tackle the international problem of money laundering and terrorist financing by implementing the global standards produced by the Financial Action Task Force (FTFA) in 2003. The UK Government has to implement the Third Money Laundering Directive into UK law by December 2007. The Government is now publishing draft Money Laundering Regulations 2007 for consultation. These Regulations will repeal and replace the Money Laundering Regulations 2003.
