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<p>The UK is internationally recognised as having some of the strongest controls and
legislation worldwide when it comes to tackling money laundering and bringing to justice
those who seek to use or hide the proceeds of crime. There has been no recent assessment
of the effectiveness of anti-money laundering provisions in the Proceeds of Crime
Act 2002. In 2017, the Regulatory Policy Committee, which considers the impact of
legislation on business, rated the Criminal Finances Bill as ‘fit for purpose’. They
agreed that the Bill would “involve no significant burden on small businesses”. The
Criminal Finances Act amended the Proceeds of Crime Act 2002 and gained Royal Assent
in 2017.</p>
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