77 Politically exposed persons: money laundering and terrorist financing
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

77  Politically exposed persons: money laundering and terrorist financing

(1)     The Treasury must exercise the power conferred by section 49 of the Sanctions and Anti-Money Laundering Act 2018 (power of appropriate Minister to make regulations about money laundering etc) for the purpose mentioned in subsection (2).

(2)     The purpose is to make provision amending Part 3 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692) (“the 2017 Regulations”) (customer due diligence) so as to secure the result required by subsection (3).

(3)     The result required by this subsection is that, where a customer is a domestic PEP, or a family member or

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