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Summary of responses to the draft combined AML-CFT Codes 2013 3 April 2013

In December the Department of Home Affairs (DHA) put out for consultation a draft combined Code to replace the Proceeds of Crime (Money Laundering) Code 2010 and the Prevention of Terrorist Financing Code 2011. The new Code is entitled the Money Laundering and Terrorist Financing Code 2013. The new proposed new Code no longer includes a Schedule of “relevant business”, this will now be contained at Schedule 4 of the Proceeds of Crime Act 2008. A new combined Code for the on-line gaming industry was also consulted upon. It is entitled the Money Laundering and Terrorist Financing (Online Gambling) Code 2013. It is proposed the revised Codes will come into effect on 1 May 2013.

The consultation responses have now been reviewed and a summary of responses has been produced which can be viewed here.

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