HM Treasury confirm formal approval of Financial Crime guidance

Monday, August 01, 2011

Guidance prepared by NFOPP in consultation with the Royal Institution of Chartered Surveyors, Association of Relocation Agents, and Association of Managing Agents, has been formally approved by HM Treasury. This means that designated authorities must consider whether this guidance has been followed when deciding whether a person has failed to comply with the Money Laundering Regulations. The guidance has been formally approved for the purposes of section 330(8) of the Proceeds of Crime Act (2002), and the guidance which deals with the Terrorism Act (2000) has also been formally approved by HM Treasury for the purposes of section 21A(6) of that Act.

The final approved guidance is now available from the INFORMATION section of all the divisional web sites. It covers the following areas:

• Bribery Act
• Proceeds of Crime Act
• Terrorism Act
• Financial Sanctions
• Money Laundering Regulations
• Anti Money Laundering Supervision
• Sector specific guidance intended to assist property professional working in different disciplines understand how the obligations apply to them