United Kingdom: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note

June 17, 2016

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United Kingdom: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note, (USA: International Monetary Fund, 2016) accessed December 21, 2024

Summary

This paper sets out the findings and recommendations made in the context of the 2016 Financial Sector Assessment Program for the United Kingdom in the areas of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). Since the 2011 FSAP, steps have been taken to strengthen the AML/CFT regime. Although significant progress has been made since the United Kingdom’s 2007 mutual evaluation against the previous Financial Action Task Force standard, the authorities are now in the process of bringing their AML/CFT framework in line with the prevailing standard, which was revised in 2012. The United Kingdom has recently adopted a comprehensive reform package to enhance entity transparency.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Commercial banks, Crime, Financial institutions, Financial Sector Assessment Program, Financial sector policy and analysis, Legal support in revenue administration, Revenue administration

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), CFT, Commercial banks, Company's register, CR, Enhance AML, Express trust, FCA visit, Financial Sector Assessment Program, Firm, Firm visit, Global, ISCR, Legal support in revenue administration, Licensing regime, Penalties regime, Platform firm, PSC regime, Recovery regime, Regime, Register of member, U.K. Financial Intelligence Unit, Wealth management firm

Publication Details

Pages:

31
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/165
Stock No:

1GBREA2016013
ISBN:

9781484394830
ISSN:

1934-7685

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