The money laundering offences can include the concealing, disguising, arranging, acquisition, use and possession of the proceeds of criminal activity. The offences are laid down in Part 7 of the Proceeds of Crime Act 2002.
Counter-terrorist financing (CTF) is considered alongside AML and it involves disguising the ultimate destination or use of assets and the funds involved are not always the proceeds of crime and may in fact have been legitimately acquired. Click here for further information on counter terrorist financing.
All members in practice are required to comply with current money laundering regulations, or equivalent if practising outside the UK. (See a list of jurisdictions considered to have anti-money laundering systems equivalent to the UK).
Members in practice must confirm compliance on their initial application for a practising certificate and subsequent annual renewal of registration.
Use the right hand navigation to find out about the regulations, how to be supervised for anti-money laundering compliance with CIMA, how to understand risk, and resources on guidance and training.
Page last updated 23/10/15