Treasury may sign off on money laundering guidance

The guidance on the prevention of money laundering and the financing of terrorism for the financial services industry was published by the Joint Money Laundering Steering Group on 1 February. Brian Capon, head of media relations at the British Bankers’ Association (BBA), says the Treasury is expected to sign off the guidance at the end of the month. The BBA is encouraging firms to start planning for the introduction of the guidance now, rather than waiting for the official sign-off, as Capon says firms are likely to have to follow the guidance within six months of the Treasury’s approval...