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<p>The 4<sup>th</sup> EU Anti-Money Laundering Directive transposes the global standards
on anti-money laundering and counter-terrorism finance set by the Financial Action
Task Force (FATF) in 2012. These standards further embed the risk-based approach,
which allow obliged entities, including companies, to adopt anti-money laundering
checks which are best suited to the risk they face in their everyday business. This
allows for more proportionate and balanced anti-money laundering regimes across the
EU including in the UK.</p><p> </p><p> </p><p> </p><p>The Directive is currently in
its last stage of negotiations. The UK government is committed to publishing an impact
assessment and to consulting on the implementation of the Directive before transposing
its new requirements into UK legislation, in line with better regulation principles.
This timing is necessary to ensure that any Impact Assessment accurately reflects
any changes to the draft legislation agreed in negotiations.</p><p> </p>
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