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 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.
All members in practice are required to comply with current money laundering regulations, or equivalent if practising outside the UK.
Members in practice must meet the requirements of CIMA's Member in Practice Rules and confirm compliance on their initial application for a practising certificate and subsequent annual renewal of registration. Review the conditions of use of a CIMA practising certificate.
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.