International factoring and Money Laundering Regulations 2017: Difference between pages

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A variation of factoring, where the buyer is situated in a different country from the seller.
''Anti money laundering - UK''.


Due to the international character of the debt, two factors are often involved, one in the buyer's country (Import factor) and one in the seller's country (Export factor). The two factors establish a contractual relationship to service the buyer and the seller.  This is called the Two-Factor System.
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) that came into force in the UK in June 2017.


They implemented the EU’s 4th Directive on Money Laundering (AML4).


==See also==
In doing so, they replaced the UK's Money Laundering Regulations 2007 (MLR 2007) and Transfer of Funds (Information on the Payer) Regulations 2007 which were previously in force.
* [[Factoring]]
 
* [[Factors]]
 
* [[Correspondent factor]]
== See also ==
* [[Export factoring]]
* [[AML4]]
* [[SOCA]]
* [[USA PATRIOT Act]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]

Revision as of 10:15, 11 July 2018

Anti money laundering - UK.

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) that came into force in the UK in June 2017.

They implemented the EU’s 4th Directive on Money Laundering (AML4).

In doing so, they replaced the UK's Money Laundering Regulations 2007 (MLR 2007) and Transfer of Funds (Information on the Payer) Regulations 2007 which were previously in force.


See also

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