ECSH25000 - Sanctions and Anti Money Laundering Act 2018

The Sanctions and Anti Money Laundering Act 2018 (SAMLA 2018) makes provision for enabling economic and other sanctions to be imposed, as well as anti-money laundering measures.  

Following the UK’s exit from the European Union (EU), SAMLA provided primary legislation in place of EU legal instruments, including Money Laundering Directives.  SAMLA 2018 is now the primary legislation underpinning the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR2017) - a UK statutory instrument – secondary legislation that cannot stand alone. 

 Part 2 of SAMLA 2018 on anti-money laundering,makes provision for the purposes of the detection, investigation and prevention of money laundering and terrorist financing. This is the part that is of most relevance for MLR 2017 purposes.