Money laundering regulations, procedures, risk, compliance and due diligence

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017)

The MLR 2017 (replacing the Money Laundering Regulations 2007 (MLR 2007) and the Transfer of Funds (Information on the Payer) Regulations 2007)creates a number of new responsibilities across all sectors and introduces a more risk-based approach to tackling money laundering and terrorist financing. It is extremely important that all individuals and businesses are fully aware of the wide-reaching implications of the 2017 Regulations and know whether they are complying because there are strict and in some cases, criminal sanctions in place for failure to comply.

Persons covered by MLR 2017 (“relevant persons”) largely remain the same as under the previous Regulations. In addition, all gambling providers are now caught by MLR 2017 and trustees have greater obligations relating to transparency of beneficiaries in their trusts.

At Janes Solicitors, our Financial Crime and Regulatory Lawyers will advise you on all aspects of your Money Laundering procedures, risk, compliance and due diligence. It is essential that you and your business remain informed about all legal developments in this area and how they impact your specific sector. Janes Solicitors provide pragmatic, relevant, and proactive advice to help ensure compliance and peace of mind in your business or practice.

Contact Janes Solicitors now to discuss how the recent changes in the Money Laundering Regulations impact on you and your business.

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