ABSTRACT
The new legislation was the Terrorism Act 2006 and then there was the Counter-Terrorism Act 2008. Whilst these two Acts have brought in many and major changes in the fight against Terrorism they have had little effect on the Money Laundering aspects and the reporting requirements which are done under the Terrorism Act 2000. To understand the money laundering requirements of the Act it is necessary to understand the meaning of terrorism and terrorist property. Another important element in the fight against Terrorism which does have an effect on anti-money laundering procedures and policies is Financial Sanctions. Sanctions can be imposed on designated persons or entities by the United Nations, European Union or the United Kingdom. Such sanctions normally include a comprehensive freeze of funds and economic resources as well as a prohibition on making funds or economic resources available to the designated target.
