6th November 2015

BBA response to Cutting Red Tape Review – Effectiveness of the UK’s AML Regime

The BBA is pleased to respond on behalf of our membership to this important review. We have made a number of recommendations for activities to improve the regulatory and supervisory aspects of the UK Anti Money Laundering and Counter Terrorist Financing regime, that will help contribute to the development of a more effective and targeted approach to tackling financial criminals whilst reducing negative impacts on legitimate customers. As set out in our paper, the BBA and our membership stand ready to work with the Government and other industry sectors on the follow up activities.