Money laundering

This section relates to the work on combating money laundering carried out by the Treasury's Financial Systems and International Standards Branch. As well as consultation documents, occasional guidance, the section will also include details of the Money Laundering Advisory Committee.

Some of the documents listed below are available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.

31 July 2006
HM Treasury is consulting on our proposed implementation of the Third Money Laundering Directive.
Implementing the Third Money Laundering Directive: a consultation document

14 December 2005
The Third Money Laundering Directive was formally adopted on the 26th October. The Directive will enter into force on the 15th December meaning that it will need to implement by the 15th December 2007.
PDF file of The Third Money Laundering Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (external website)

16 September 2005
On the 7th June the Directive of the European Parliament and the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (the Third EC Money Laundering Directive) reached political agreement. Further information on this Regulatory Impact Assessment can be found on the link below. It should be noted that the document provides an estimate of the costs and benefits of the Third Money Laundering Directive only. A further impact assessment to inform our decisions on implementing the Directive will be developed and produced over the implementation period.
PDF file of The Third Money Laundering Directive: Regulatory Impact Assessment (118KB)

17 June 2005
Political agreement on the Third EU Money Laundering Directive text was reached by the European Union Council on the 7th June meeting of finance ministers. Please find below a link to the agreed text. It should be noted that this text is subject to EU legal -linguistic scrutiny and therefore is only provisional. Formal adoption of the Directive is expected later this year.
PDF file of Draft directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (external website)

23 November 2004
Following a request for clarification this letter sets out the policy intention underlying regulation 2(2)(l) of the Money Laundering Regulations 2003: 'The provision by way of business of legal services by a body corporate or unincorporate or, in the case of a sole practitioner, by an individual and which involves participation in a financial or real property transaction (whether by assisting in the planning or execution of any such transaction or otherwise by acting for, or on behalf of, a client in any such transaction'.
PDF file of Money Laundering Regulations 2003: Chartered surveyors acting as third party dispute resolvers: Letter to the Royal Institution of Chartered Surveyors 16 November 2004 (96KB)

26 November 2004
Anti-money laundering strategy
This document sets out how the government will continue the fight against money laundering. It provides a clear statement of the current regime and the government's goals.
PDF file of Anti-money laundering strategy (948KB)

4 October 2004
Consultation document on the European Commission's preliminary draft articles for a Third Money Laundering Directive - summary of responses published.
Informal consultation document on the Third EC Money Laundering Directive

30 January 2003
Following requests for clarification this letter sets out the policy intention underlying regulation 2(2)(m) of the Money Laundering Regulations 2003: “the provision by way of business of services in relation to the formation, operation or management of a company or a trust”.
PDF file of Money Laundering Regulations 2003: Corporate Service Providers: letter to the British Bankers´ Association dated 19th January 200 (84KB)

6 January 2003
On 28th November 2003 the Financial Secretary to the Treasury, Ruth Kelly, laid the Money Laundering Regulations 2003 before Parliament, together with amending orders for the Proceeds of Crime Act and the Terrorism Act. The main effect of the Regulations is to complete the implementation in the UK of the 2nd EC Money Laundering Directive, agreed in December 2001.

The Regulations will come into force from 1 March 2004. Copies of the Regulations are available on HMSO's website.

The Money Laundering Regulations 2003
The Proceeds of Crime Act 2002 (Business in the Regulated Sector and Supervisory Authorities) Order 2003
The Terrorism Act 2000 (Business in the Regulated Sector and Supervisory Authorities) Order 2003

Money laundering

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