Carolyn Harris – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Carolyn Harris on 2016-02-22.

To ask Mr Chancellor of the Exchequer, when he plans to consult on the transposition of the fourth anti-money-laundering directive.

Harriett Baldwin

In June 2015, the fourth EU Anti-Money Laundering Directive (‘the Directive) was formally adopted. Member States have up until June 2017 to transpose the Directives requirements, into national law.

With regards to the Government’s plans to consult on the transposition of the Directive, it intends to do so by early spring, with consultation running for a full 12 weeks. The consultation will cover areas where the Directive has given us options or direction on how we transpose its provisions, as well as areas where we can improve the UK’s anti-money laundering and counter financing of terrorism (AML/CFT) regime.

By undertaking this work, we are further ensuring that our anti-money laundering and counter-financing of terrorism regime is robust and sufficiently responsive to emerging threats.