Analysis of the UK Anti-Money Laundering legislation in the light of Coursework

Analysis of the UK Anti-Money make clean legislation in the light of implementation of the EU Directives - Coursework ExampleThe UK, being home to the global financial hub of London, has necessarily had to enact a number of measures traceable to the 1993 Money Laundering Regulations. The paper is an analysis of the UK Anti-Money Laundering legislation in the light of implementation of the EU DirectivesMoney launder is a roughshod process of accruing supposedly legitimate assets or moneys, through divers(prenominal) means and procedures, which be able to clean illegal criminal proceeds. Fundamentally, due to its diverse impacts upon the economy, it has been vital for not only localised and regional attention but also global implementation of watchdog policy initiatives. The dynamic record of criminal enterprise, has necessarily dictated the need for constant updating of prevailing legislation in extraction with the new methods, processes and avenues of laundering dirty money. As a result, the term Money laundering, has come to be categorized and connected to other diverse forms of financial crime in relation to the general ravish of existing financial systems. Accordingly, under this categorization, diverse forms of financial system misuse i.e. of traditional and digital currencies, acknowledgement cards and securities amongst others, have been interlinked to the criminal act1.Furthermore, this has led to the association of terrorism funding, as well as diverse evasion measures of inter internal sanctions with the criminal act of money laundering. Initially, pertinent legislation dealing with this form of criminal activity was mainly focused on local and regional settings, as various nations experienced the positive degree impacts of industrial growth. Accordingly, the diverse legislations enacted were principled along these contexts, mainly dealing on a local and national scale. However, due to the influence of gradual globalization process, there wa s need for a re-think of the prevailing preventative measures. Of important importance, because of the link