The Joint Money Laundering Steering Group (JMLSG) has published a letter addressed to it from HM Treasury in which HM Treasury confirms that it has approved, with immediate effect, the latest version of the JMLSG’s guidance for money service businesses (MSBs) as customers of banks for the purposes of sections 330 and 331 of the Proceeds of Crime Act 2002, section 21A of the Terrorism Act 2000, and Regulations 42 and 45 of the Money Laundering Regulations 2007.
This means that the new guidance for MSBs now has the same legal status as the existing JMLSG guidance.
View Joint Money Laundering Steering Group guidance on Money Service Businesses (MSBS) as customers of banks, 16 July 2014
View Ministerial approval of the JMLSG guidance re MSBs, 22 July 2014
View Guidance in respect of Money Service Businesses, 2 July 2014