Category: HM Treasury

AML Compliance: European Union Blacklist for Tax Havens

MEPs have called for a tightening of the rules on which countries are added or removed from the blacklist and indicated that UK overseas territories such as the Cayman Islands, Bahamas, Jersey and Guernsey are among those which should be added to an EU tax havens blacklist after the conclusion of the Brexit deal,

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The EU Fourth Money Laundering Directive adopted in June 2015

The EU Fourth Money Laundering Directive (4MLD) was adopted in June 2015. One of the main requirements which are an enhancement over the 3rd directive is that it requires all Member States to hold central registers on company beneficial ownership information from 2017.

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Government announces a new crackdown on corrupt professionals who help criminals

Lawyers, couriers and accountants could be jailed if they turn a blind eye to criminal activity they profit from, under Home Office plans. It wants to see a new offence of “participation in an organised crime group” to target those with reason to suspect they are part of an illegal enterprise. This offence is not

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HM Treasury issue advice about unsatisfactory money laundering controls

On 14 February 2014 the Financial Action Task Force (FATF) published two statements identifying jurisdictions with strategic deficiencies in their anti-money laundering and counter financing regimes.

The Money Laundering Regulations 2007 require regulated entities to put in place policies and procedures in order to prevent activities related to money laundering and terrorist financing.

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