On 5 January 2023, the threshold amount specified in section 339A of the Proceeds of Crime Act 2002 (POCA) was increased from £250 to £1,000 following the coming into force of the Proceeds of Crime (Money Laundering) (Threshold Amount) Order 2022 (SI 2022/1355) made on 15 December 2022.

The threshold amount is the value of criminal property below which a bank or similar firm (a deposit-taking body, electronic money or payment institution ) can carry out for a transaction, in operating an account for a customer, without committing one of the main money laundering offences in sections 327 to 329 of POCA.