The Money Laundering Regulations 2003
PART IGENERAL
1Citation, commencement etc.
2Interpretation
PART IIOBLIGATIONS ON PERSONS WHO CARRY ON RELEVANT BUSINESS
3Systems and training etc. to prevent money laundering
4Identification procedures
5Exceptions
6Record-keeping procedures
7Internal reporting procedures
8Casinos
PART IIIMONEY SERVICE OPERATORS AND HIGH VALUE DEALERS
Registration
9Registers of money service operators and high value dealers
10Requirement to be registered
11Supplementary information
12Determination of application to register
13Cancellation of registration
14Fees
Powers of the Commissioners
15Entry, inspection etc.
16Order for access to recorded information
17Procedure where recorded information is removed
18Failure to comply with requirements under regulation 17
19Entry, search etc.
Penalties, review and appeals
20Power to impose penalties
21Review procedure
22Appeals to a VAT and duties tribunal
Miscellaneous
23Prosecution of offences by the Commissioners
24Recovery of fees and penalties through the court
25Authorised persons operating a bureau de change
PART IVMISCELLANEOUS
26Supervisory authorities etc. to report evidence of money laundering
27Offences by bodies corporate etc.
28Prohibitions in relation to certain countries
29Minor and consequential amendments
30Transitional provisions
SCHEDULE 1ACTIVITIES LISTED IN ANNEX 1 TO THE BANKING CONSOLIDATION DIRECTIVE
1Acceptance of deposits and other repayable funds.
2Lending.
3Financial leasing.
4Money transmission services.
5Issuing and administering means of payment (eg credit cards, travellers'...
6Guarantees and commitments.
7Trading for own account or for account of customers in—...
8Participation in securities issues and the provision of services related...
9Advice to undertakings on capital structure, industrial strategy and related...
10Money broking.
11Portfolio management and advice.
12Safekeeping and administration of securities.
13Credit reference services.
14Safe custody services.
SCHEDULE 2MINOR AND CONSEQUENTIAL AMENDMENTS
PART IPrimary Legislation
Value Added Tax Act 1994 (c. 23)
1(1) Section 83 of the Value Added Tax Act 1994...
Northern Ireland Act 1998 (c. 47)
2(1) Paragraph 25 of Schedule 3 (reserved matters) to the...
PART IISecondary Legislation
The Cross-Border Credit Transfers Regulations 1999 (S.I. 1999/1876)
3(1) Regulation 12 of the Cross-Border Credit Transfers Regulations 1999...
The Terrorism Act 2000 (Crown Servants and Regulators) Regulations 2001 (S.I. 2001/192)
4(1) The Terrorism Act 2000 (Crown Servants and Regulators) Regulations...
The Representation of the People (England and Wales) Regulations 2001 (S.I. 2001/341)
5(1) The Representation of the People (England and Wales) Regulations...
The Representation of the People (Northern Ireland) Regulations 2001 (S.I. 2001/400)
6(1) The Representation of the People (Northern Ireland) Regulations 2001...
The Representation of the People (Scotland) Regulations 2001 (S.I. 2001/497)
7(1) The Representation of the People (Scotland) Regulations 2001 are...
The Proceeds of Crime Act 2002 (Failure to Disclose Money Laundering: Specified Training)Order 2003 (S.I. 2003/171)
8(1) The Proceeds of Crime Act 2002 (Failure to Disclose...

2003 No. 3075

FINANCIAL SERVICES

The Money Laundering Regulations 2003

Made

Laid before Parliament

Coming into force in accordance with regulation 1(2)

Whereas the Treasury are a government department designated M1 for the purposes of section 2(2) of the European Communities Act 1972 M2 in relation to measures relating to preventing the use of the financial system for the purpose of money laundering;

Now therefore the Treasury, in exercise of the powers conferred on them by—

  1. i

    section 2(2) of the European Communities Act 1972, and

  2. ii

    sections 168(4)(b), 402(1)(b), 417(1) M3 and 428(3) of the Financial Services and Markets Act 2000 M4,

hereby make the following Regulations:

Annotations:
Marginal Citations
M2

1972 c. 68. By virtue of the amendment of section 1(2) made by section 1 of the European Economic Area Act 1993 (c. 51) regulations may be made under section 2(2) to implement obligations of the United Kingdom created by or arising under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting that Agreement signed at Brussels on 17th March 1993 (Cm 2183).

M3

See the definition of “prescribed”.