UK: Consultation on the transposition of the Fourth Money Laundering Directive

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September 2016

This chapter sets out the context in which this consultation takes place. It provides relevant background on money laundering and terrorist financing, including its significance from both a UK, European and Financial Action Taskforce (FATF) perspective. It also covers the government’s approach and plans for implementation of the Fourth Money Laundering Directive (4MLD or ‘the directive’), and those aspects of the Fund Transfer Regulation (FTR) that need to be transposed into national law. 1.2 Finally, this chapter touches upon digital currencies, the Better Regulation Executive (BRE) review, the European Supervisory Authority (ESA) guidance and the Supranational Risk Assessment (SNRA) – all of which are subject to separate consultation and are important to note within the wider context of money laundering and terrorist financing.