The UK Government has published a review of the UK's Anti-Money Laundering and Counter Financing of Terrorism regime. The document summarizes the views and evidence submitted by businesses to the UK Government's Cutting Red Tape review on the impact of the current Regime. Businesses such as banks, financial institutions and businesses who are asked to comply with banks' and financial institutions' requirements under the Regime. The UK Government launched the CRT Review in 2015 seeking evidence of any needless and ineffective burdens associated with the UK AML/CTF Regime. The purpose of the Review is to identify any aspects of UK regulatory activity that could be made more efficient. The aim of the Review is also to examine the possibility of improving compliance and efficiency through the identification of aspects of the supervisory regime that appear to regulated businesses as unclear, unnecessarily cumbersome, conflicting or confusing. The Government states that it will not abrogate any of its international commitments as a result of the Review.

View the webpage.

View the Review.

View the Annex.