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<p>The UK has a comprehensive anti-money laundering and counter financing of terrorism
regime and the Government is committed to ensuring our financial system is a hostile
environment for illicit finances.</p><p> </p><p> </p><p> </p><p>The international
money laundering and counter financing of terrorism standards are incorporated into
various pieces of UK law, predominantly the Money Laundering Regulations (2007) and
the Proceeds of Crime Act (2002) and also the Terrorism Act 2000. All banks within
the UK banking system must comply with that legislation.</p><p> </p><p> </p><p> </p><p>The
Treasury is also responsible for implementing financial sanctions in the UK and for
making designations under the Terrorist Asset Freezing etc. Act 2010. We are committed
to ensuring that our terrorist asset freezing powers continue to be used and administered
in an effective and proportionate way to help protect the public from the threat of
terrorism.</p><p> </p>
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