The New Economic Crime Levy - A Bitesized Guide for the Regulated Sector

Introduction

In Autumn 2021 the government announced that a new economic levy would be imposed on the AML regulated sector. The purpose of the levy is to raise funds to combat money laundering and other forms of economic crime.

Provisions for the new levy appear in Part 3 of the Finance Act 2022 which achieved Royal Assent on 24 February 2022 and the first levies will be collected in 2023. Not all regulated entities will be affected but it is important that the regulated sector is aware and those that are affected have prepared for its commencement.

This short webinar will bring regulated professionals up to speed with the impending levy.

What You Will Learn

This webinar will cover the following:

• Brief background and rationale to the levy
• Which regulated entities are affected
• How the economic crime levy is calculated
• Who is responsible for collection and management of the levy
• How the levy is to be spent

This webinar was recorded on 24th May 2022

Quick Quiz - Test Your Knowledge: Money Laundering