The Proceeds of Crime Act 2002 and Money Laundering Regulations 2003 (Amendment) Order came into force on 23 February 2006.  Accountants, auditors and tax advisers who are members of the relevant professional bodies will now be able to rely on the defences contained in the Act and the Regulations in respect of privileged information would otherwise require to be disclosed.  Previously this defence had only applied to legal advisors.

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