Director
In the last video of this series, Jodie discussed what money laundering is and how it is combated. In this video she will focus on the UK’s anti-money laundering regime, which is extensive.
In the last video of this series, Jodie discussed what money laundering is and how it is combated. In this video she will focus on the UK’s anti-money laundering regime, which is extensive.
11 mins 22 secs
Efforts to combat money laundering concentrate on the point in the process where the launderer is most vulnerable to detection. The easiest detection stage is ‘Placement’ and it’s where regulation places the greatest focus. The main statutory requirements are set out in the Money Laundering Regulations and they make it a criminal offence for regulated businesses not to have in place formal procedures to combat money laundering.
Key learning objectives:
Understand the UK anti-money laundering regime
Identify the requirements under the Money Laundering Regulation 2017
Understand the overview of customer due diligence and record keeping