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HM Treasury launches consultation on effectiveness of Money Laundering Regulations

Money in washing machine - money laundering
Photo: Getty Images

Robert Dedman | CMS, James Dickie | CMS, Faye Ellis | CMS+1

5 min read
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New proposals aim to reduce ambiguity and lead to a reduction in over-compliance or inconsistent application.

HM Treasury (HMT) has launched a consultation (the Consultation) on improving the effectiveness of Money Laundering Regulations 2017 (MLRs). The Consultation follows HMT’s 2022 review of the UK’s anti-money-laundering (AML) and counter-terrorist-financing (CTF) regulatory and supervisory regime (the 2022 Review), and the Economic Crime Plan 2023-26.

While the 2022 Review concluded

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