DTI Minister Discusses Anti-Money Laundering Role For UK Accountants
The Department of Trade
and Industry Minister, Melanie Johnson, spoke in Parliament this week about
the responsibilities of the UK accounting sector in the fight against money
laundering practices and terrorist funding. Responding to a question
from Andrew Mitchell MP regarding the efficacy of regulatory amendments designed
to ensure that accountants are obliged to report suspicious transactions and
clients, Ms Johnson pointed out that the sector will be under close scrutiny
from its own regulatory bodies, and additionally, will fall within the remit
of both the UK Proceeds of Crime Bill (currently before Parliament), and the
second European money laundering directive. 'At present not all accountants
are regulated under the 1993 Money Laundering regulations,' she explained. 'However,
under the second European money laundering directive, which is expected to be
formally adopted after Christmas, accountants will be brought within the regulated
sector.' .
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.