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The UK Anti-Money Laundering Regime: the practical effects for business

John Binns and Caroline Mair discuss the key provisions of the UK Anti-Money Laundering regime, a regime which has serious and wide-ranging implications for business. The authors provide a snapshot of those provisions and some practical guidance on how businesses might wish to approach their anti-money laundering responsibilities. 

The UK’s money laundering legislation is complicated and far-reaching. Although its main impact is on the banks and others in the “regulated sector” of the UK itself, it has the potential to impact on any business in any sector, anywhere in the world. It is important therefore for businesses to be aware at least in broad terms of the legislative landscape and the pitfalls that may arise.

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