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HM Treasury publishes consultation responses and policy paper on the Economic Crime Levy

Published on: 23 September 2021
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Article summary

HM Treasury has published the outcomes of its consultation on the Economic Crime (Anti-Money Laundering) Levy (ECL), which would be paid by entities subject to the Money Laundering Regulations (MLRs) to help fund new government anti-money laundering (AML) action and help deliver the reforms committed to in the 2019 Economic Crime Plan. The government has decided that AML regulated entities will first be charged the levy during the year 1 April 2022 to 31 March 2023. The government has also published a policy paper introducing the draft legislation.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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