Cash in, cash out: The art of money laundering compliance

Lee Baxter provides some practical pointers for UK law firms on how to manage the risks of anti-money laundering compliance

29 Nov 2013

It has been more than a decade since the implementation of the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2003, which incorporated the European Commission’s second money laundering directive into UK law. Together, they extended anti-money laundering obligations to a defined set of activities provided by legal professionals. These have raised a number of regulatory challenges which have changed over the years as the UK anti-money laundering (AML) framework has evolved. This article offers some insight and practical suggestions to help manage the regulatory risks with which firms have to contend.

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