The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
The BBA supports strongly the FATF decision that, in line with good practice, it should re-examine its standards periodically to ensure that they remain relevant and consistent with the implementation and evaluation of the current standards.
It is particularly welcome too that the FATF is carrying out this public consultation involving the private sector and indeed all stakeholders. The BBA’s members are at the forefront of the UK’s endeavours to combat money laundering and terrorist financing, they have extensive practical knowledge and they deploy sophisticated systems to make sure that their compliance is of the highest quality.
Please read our full response via the link below.
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