The Economic Crime (Anti-Money Laundering) Levy (Amendment)
Regulations, SI 2023/369, provide for the assessment, payment, collection and
recovery of the economic crime (anti-money laundering) levy.
The regulations establish processes to enable collection of the
levy, ahead of the collection of the first levy payments in 2023. This includes
levy enforcement frameworks such as financial penalties, reviews and appeals,
provisions for information to be supplied to the FCA and Gambling Commission,
record keeping and preservation obligations, recovery of overpayments, and a
consequential amendment to the Financial Services and Markets Act 2000 in
relation to the FCA.
The Economic Crime (Anti-Money Laundering) Levy (Amendment)
Regulations, SI 2023/369, provide for the assessment, payment, collection and
recovery of the economic crime (anti-money laundering) levy.
The regulations establish processes to enable collection of the
levy, ahead of the collection of the first levy payments in 2023. This includes
levy enforcement frameworks such as financial penalties, reviews and appeals,
provisions for information to be supplied to the FCA and Gambling Commission,
record keeping and preservation obligations, recovery of overpayments, and a
consequential amendment to the Financial Services and Markets Act 2000 in
relation to the FCA.
