ABSTRACT
This chapter provides an overview of the anti-money laundering (AML) legislation and policies pertaining to accountants in the European Union and in some of its Member States. It focuses on the role of qualified accountants in AML instruments. The chapter highlights the importance of effective liaison between key stakeholders in the AML framework such as law enforcement agencies and professional accounting bodies. It identifies AML strategies in the EU, and highlights areas of good practice and reform. However, consideration of key concepts, principles and practices across the EU should indicate whether harmonisation and uniformity have been achieved. The chapter examines that the legal framework on which the United Kingdom AML regime is based can be summarised as the Proceeds of Crime Act (PoCA) 2002, the Money Laundering Regulations (MLRs) and relevant guidelines of government and industry advisory bodies, which have to be approved by the Treasury.
