Anti Money Laundering Regulations 2007

From 15 December 2007, the Money Laundering Regulations 2007 came into force, repealing and replacing the Money Laundering Regulations 2003. These new regulations set administrative requirements for the anti-money laundering regime within the regulated sector and outline the scope of customer due diligence.

The Regulations aim to limit the use of professional services for money laundering by requiring professionals to know their clients and monitor the use of their services by clients.

To help our clients understand these regulations and what they mean we have put together the following questions and answers. However, if you need any further clarification do not hesitate to contact SFS-

What is Money Laundering?

Why does this affect SFS and their clients?

How will SFS implement these regulations?

What if I do not supply the relevant identification?

Money Laundering Regulations 2007 - A copy of the regulations in full

 

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