Guidance
AML

 
The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (January 2020)

The regulations amend the Money Laundering, Terrorist Financing and Transfer of Funds Regulation from 2017, and would implement an EU Directive on the topic.

The regulation makes additional provisions to cover crypto-asset exchange providers in its definitions of credit institutions, as well as for letting agencies and estate agents. These will now be covered under anti-money laundering and counter-terrorist financing legislation.

The regulation will come into force in three phases:

• 10th January 2020, except for the following -

o Customer due diligence: anonymous prepaid cards - comes into force on 10th July 2020

o Bank account portal - comes into force on 10th September 2020.

 

Downloads

14 January 2020

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Ben LuxfordBen Luxford
Head of Technical
020 7566 4218
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