Reporting for duty
13 September 2012
Much of the Money Laundering Regulations 2003 came into force on 1 March, including provisions relating to a ‘nominated officer’. Who is this intriguing person?
Accountants are currently very concerned about what they ought to be doing to comply with money laundering legislation. This is quite right, because the Money Laundering Regulations 2003 (‘2003 Regulations’) do apply to you and may apply to your clients.
Money laundering is the conversion of the proceeds of crime into ‘clean’, legally-acquired money or assets or...