Anti-money laundering : the SARs regime : consultation paper

Great Britain. Law Commission

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Summary

  • "In December 2017 the Home Office asked the Law Commission to review the anti-money laundering regime in Part 7 of the Proceeds of Crime Act 2002. And the counter-terrorism financing regime in Part 3 of the Terrorism Act 2000. This is to make one aspect of the UK anti-money laundering law - known as the 'consent regime' - even more effective. The review will focus on the consent provisions in: 2002 Act: Sections 327 to 329 and Sections 335, 336 and 338 [and] 2000 Act: Sections 21 to 21ZC. The review will also consider the disclosure offences in Sections 330 to 333A of the 2002 Act. And Sections 19, 21A and 21D of the 2000 Act. The review aims to analyse and produce proposals addressing the problems with the anti-money laundering and counter-terrorist finance reporting regimes."--

Notes

  • "This consultation paper applies to the law of England and Wales."--Page i.
  • "20 July 2018."
  • Includes bibliographical references.
  • Also available online.

Contents

  • Introduction -- Money laundering -- Terrorism financing -- Measuring effectiveness -- The "all crimes" approach -- The meaning of suspicion -- The application of the concept of suspicion in the context of the money laundering offences -- The application of the test of suspicion in the context of the disclosure offences -- The case for reforming the suspicion threshold -- Criminal property and mixed funds -- The scope of reporting -- The meaning of consent -- Information sharing -- Enhancing the consent regime and alternative approaches -- Consultation questions
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