United Kingdom: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note
IMF Staff Country Reports, June 17, 2016
Source details
- Canonical URL
- United Kingdom: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note
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Bibliographic details
- Published: June 17, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484394830.002
Summary
- Paper sets out findings and recommendations from the 2016 Financial Sector Assessment Program (FSAP) 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.
- Significant progress has been made since the United Kingdom’s 2007 mutual evaluation against the previous Financial Action Task Force standard.
- Authorities are in the process of bringing the 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 areas covered
- 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 referenced
- 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
International Monetary Fund. Monetary and Capital Markets Department "United Kingdom: Financial Sector Assessment Program-Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)-Technical Note", IMF Staff Country Reports 2016, 165 (2016).