Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

HM Treasury written question – answered on 7th September 2017.

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Photo of John Martin McDonnell John Martin McDonnell Shadow Chancellor of the Exchequer

To ask Mr Chancellor of the Exchequer, whether HM Treasury has exempted gambling services from The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Photo of Stephen Barclay Stephen Barclay The Economic Secretary to the Treasury

The Government has exempted the gambling sector (except for non-remote and remote casinos) from The Money Laundering, Terrorist Financing and Transfer Funds (Information on the Payer) Regulations 2017 (MLRs). The Government’s reasoning is set out in its consultation response of March 2017 and can be found here:

https://www.gov.uk/government/consultations/money-laundering-regulations-2017/money-laundering-regulations-2017

As per Regulation 16(3)(c) of the MLRs, the Government will keep under review whether providers of gambling services other than casinos should continue to be excluded from the requirements of these Regulations.

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