Money Laundering Regulations 2017

This page provides an overview of the Money Laundering Regulations 2017 for police officers, helping them understand key sections of the law and how it applies in their duties.

Overview

The Money Laundering Regulations 2017 are designed to prevent criminals from disguising the proceeds of crime as legitimate income. The law requires police to investigate suspicious financial activities and collaborate with financial institutions to prevent money laundering.

Key Powers under the Law

Police officers can investigate and seize assets related to money laundering, collaborate with financial institutions to track suspicious activities, and enforce compliance with anti-money laundering (AML) regulations.

Important Sections for Police Officers

• Section 21: Outlines the duty to report suspicious financial activities under anti-money laundering laws.
• Section 28: Provides police with the authority to seize assets and investigate financial transactions that are suspected to involve money laundering.

What You Can Do Under This Law

Officers can investigate suspicious financial activities, seize assets linked to money laundering, and work with financial institutions to track down illicit transactions and ensure compliance with anti-money laundering regulations.

How to Request or Apply

Officers should:

• Step 1: Collaborate with financial institutions to identify suspicious financial activity and gather evidence.
• Step 2: Use AML powers to seize assets or apply for freezing orders to prevent further money laundering activities.