The Proceeds of Crime (Money Laundering) (Threshold Amount) Order 2022
This Order increases from £250 to £1,000 the threshold amount specified in section 339A of the Proceeds of Crime Act 2002 (c. 29) (“POCA”). The threshold amount is the value of criminal property below which a bank or similar firm (a deposit-taking body, electronic money or payment institution) can carry out a transaction, in operating an account for a customer, without committing one of the main money laundering offences in sections 327 to 329 of POCA.
Lifecycle
Department
Made
15 Dec 2022
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In force
05 Jan 2023
Enabling power
A draft of this Order was laid before Parliament in accordance with section 459(6) of that Act and was approved by a resolution of each House of Parliament.
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