ABSTRACT
So what do the Money Laundering Regulations 2007 require? Regulation 21 requires that each regulated institution takes reasonable measures to make its employees aware of its policies, procedures and the various enactments and regulations relating to money laundering. This training must include how to recognise and deal with transactions which may be related to money laundering as well as the tipping-off provisions. It must also provide relevant employees with appropriate training from time to time. This is a requirement imposed upon all persons or firms which are covered by or fall within the terms of the Money Laundering Regulations’ requirements.
