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Part A Regulatory Matters, 7 Money Laundering Legislation

From: The Law and Practice of International Banking (2nd Edition)

Charles Proctor

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 30 January 2023

Regulation of banks — Anti-terrorist financing — Criminal proceedings — Misuse of information — Money laundering

This chapter considers the impact of anti-money laundering and anti-terrorist financing legislation on a bank's business. It provides a broad international background to anti-money laundering initiatives. It also gives an overview of the UK regulatory environment. The chapter then explains customer identification requirements; the substantive money laundering offences created by the Proceeds of Crime Act 2002; anti-terrorism legislation; and the civil consequences of the anti-money laundering framework.

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