18th December 2009

Review of the Money Laundering Regulations 2007

We are pleased to be able to provide you with our members’ views on this review of the Money Laundering Regulations 2007.

Clearly the banking sector is the most actively affected financial sector in relation to money laundering issues and our members are by far the largest contributors of reports in submitting around 85% of the total number of suspicious activity reports (“SARs”). We hope therefore that our response will be given due consideration in the light of the profile of our members in this area.