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Implementing the Third Money Laundering Directive: a consultation document

HM Treasury is conducting a consultation on the Government's proposed implementation of the Third Money Laundering Directive. The Directive was adopted in October 2005 and will need to be implemented into UK law by December 2007. The aim of the Directive was to update European legislation in line with the Financial Action Task Force recommendations. The purpose of this consultation document is to seek views on our proposals for implementation into UK legislation.

This consultation document sets outs our proposed implementation for the articles of the Directive. It also contains a Partial Regulatory Impact Assessment (PRIA) and poses a number of questions to which interested parties are invited to respond. Consultees have until 20th October 2006 to respond.

Following on from this consultation process, draft new Money Laundering Regulations will be issued and consulted upon by the end of this year.

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The Third Money Laundering Directive: Regulatory Impact Assessment

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