The Criminal Finances Act 2017: Key legal changes

United Kingdom
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In April 2016, the Government published an action plan ('Plan') to counter the money laundering and terrorist financing risks faced by the UK, as identified in the national risk assessment published in October 2015. The Plan focused on the following priorities:

  1. A more robust law enforcement response to the risks, including building new capabilities in the UK’s law enforcement agencies and creating tough new legal powers to enable the disruption of criminals and terrorists;
  2. Reforming the supervisory regime to ensure that it is consistent, effective and brings companies who facilitate or enable money laundering to task; and
  3. Increasing the international reach of UK law enforcement agencies and international information sharing to tackle money laundering and terrorist financing threats.

Please download our publication to read about the Act in greater detail.