is Money Laundering?
widespread is the Problem?
Money Laundering Process
of the Process
Can We Prevent It?
on Financial Institutions
Areas Prone To Money Laundering
MONEY LAUNDERING LEGISLATION - Part 2
The UK has established a three tiered legislative structure in response to the threat from money launderers. This consists of a selection of primary legislation promulgated by Parliament, secondary delegated legislation in the shape of the Money Laundering Regulations 1993, and a third tier of explanatory guidance notes produced by regulatory authorities and trade associations.
Principal Acts of Parliament.
The UK has had specific legislation against laundering the proceeds of drug trafficking since the Drug Trafficking Offences Act (DTOA) 1986. Since then more legislation has been enacted and primary legislation now covers the laundering of proceeds from drug trafficking, terrorism and general crime. However, the legislation has not yet been consolidated and important differences remain between treatment of these three types of proceeds.
The following Acts of Parliament not only contain provisions against money laundering, but they also form a chronology of the developments in the battle against it in the UK.