23 May 2019
The spring has brought a rush of government initiatives aimed at further improving the financial crime prevention regime in the UK. Who knows what the relationship between the UK and the EU will be come 10 January 2020 when MLD5 falls to be implemented? Regardless, Treasury is pressing on with its plans to implement it, not least as it was one of the prime movers behind it and supports the initiatives taken in it. The consultation will help Treasury decide how to balance a proportionate approach to implementation that manages the burden on business while actively discouraging ML/TF activity.