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A7.115 Money Laundering Regulations—general

The Money Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations, SI 2019/253, came into force on 31 January 2020, the date on which the UK left the EU (see A2.201). The purpose of these Regulations was to address failures of retained EU law to operate effectively and other deficiencies arising from the UK's withdrawal from the EU, ensuring that the legislation continues to operate effectively. These amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations, SI 2017/692 which came into force on 26 June 2017 (the '2017 Regulations'), and which replaced the Money Laundering Regulations, SI 2007/2157 and the Transfer of Funds (Information on the Payer) Regulations, SI 2007/3298. SI 2017/692 has subsequently been amended by The Money Laundering and Terrorist Financing (Amendment) Regulations, SI 2019/1511 to implement the changes made by the EU's fifth Anti-Money Laundering Directive (2018/843/EU). The Money Laundering and Terrorist Financing (Amendment) (No 2) Regulations 2022 (SI 2022/860) further amend the 2017 regulations (SI 2017/692).

The 2017 Regulations apply to the following 'relevant