On 1 October 2012, the Money Laundering (Amendment) Regulations 2012 (SI 2012/2298) (MLAR) come into force. These amend the Money Laundering Regulations 2007 (SI 2007/2157) in several respects.

For property practitioners, the most notable change is that the definition of estate agents regulated by these rules has been widened, to include those dealing with property located beyond the United Kingdom.

For details of other amendments made by the MLAR, see Legal update, Money Laundering (Amendment) Regulations 2012 published.

For a reminder to conveyancers of how the money laundering regime works, see the following Practice notes:

Source: Money Laundering (Amendment) Regulations 2012 (SI 2012/2298).