The Guidance will support AML-regulated firms, within Schedule 9 of the Proceeds of Crime Act 2002 (POCA), to utilise the new information sharing provisions introduced by the ECCTA which entered into force in January 2024.
Information is provided on areas including:
- Sector-led approach to information sharing;
- Technical mechanisms to adopt; and
- Law enforcement reporting, UK GDPR compliance and customer redress.
Regulated firms should consider how they can apply the overarching principles in the new guidance to their own processes and systems, to develop a consistent approach to sharing across the financial sector.
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