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Money Laundering Regulations 2017: which financial institutions are in scope?
Practical Law UK Practice Note w-015-2349 (Approx. 22 pages)
Money Laundering Regulations 2017: which financial institutions are in scope?
by Practical Law Financial Services
| Maintained • United Kingdom |
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692) (Money Laundering Regulations 2017 or MLRs 2017) form part of the UK's anti-money laundering (AML) and counter-terrorist financing (CTF) regime.
The MLRs 2017 apply to a wide range of businesses identified as most vulnerable to the risk of being used for money laundering and terrorist financing purposes. This note explains which financial institutions fall within the scope of the MLRs 2017.