Money laundering law briefing paper

Whilst the adequacy of anti-money laundering (“AML”) controls within the UK remote gambling sector remains under close investigation by the Gambling Commission, it is interesting to read a House of Commons Library briefing paper on Money laundering law, that was published yesterday and can be downloaded below. It:

  • sets out the main features of the UK’s money laundering legislation which is comprised largely of legislation derived from the EU Third and Fourth Money Laundering Directives, and
  • notes that whilst the burdens in terms of compliance are great, the benefits, in terms of a safer financial system, are less easy to measure even though they may be considerable.

Tags: