# MLR 2017: The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Source page: https://protegra.io/licensing/laws/gb-money-laundering-regulations-2017/ The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692) is the UK's principal anti-money laundering statute. It establishes mandatory FCA registration regimes for cryptoasset exchange providers and custodian wallet providers, and governs AML compliance for payment service providers, e-money institutions, and money service businesses. ## At a glance | Official title | The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 [1] | | --- | --- | | English title | The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 | | Citation | S.I. 2017/692 | | Jurisdiction | [United Kingdom](https://protegra.io/licensing/jurisdictions/united-kingdom/) | | Type | regulation | | Adopted | 2017-06-22 | | In force from | 2017-06-26 | | Status | in force | ## Full text **Official full text:** [The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (HTML, en)](https://www.legislation.gov.uk/uksi/2017/692) [1] · 1,966 KB · file checked 2026-10-19 · consolidated version of 2026-06-30 Official page: [legislation.gov.uk](https://www.legislation.gov.uk/uksi/2017/692/contents) [1] · [archived copy](https://web.archive.org/web/20260921114347/https://www.legislation.gov.uk/uksi/2017/692) ## Summary The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 form the core of the United Kingdom's anti-money laundering and counter-terrorist financing regime, implementing EU directives and international FATF standards. They apply to 'relevant persons' carrying on business in the UK, including credit and financial institutions, payment service providers, electronic money institutions, cryptoasset exchange and custodian wallet providers, trust or company service providers, accountants, tax advisers, and legal professionals. The regulations establish mandatory registration regimes administered by the Financial Conduct Authority (FCA) for cryptoasset businesses and certain money service businesses (MSBs), and by HM Revenue & Customs (HMRC) for other MSBs and high-value dealers. Key obligations include conducting comprehensive firm-wide and customer risk assessments, maintaining robust internal AML/CTF policies, performing customer due diligence and enhanced due diligence on politically exposed persons, reporting beneficial ownership information, complying with the cryptoasset 'Travel Rule' for fund and crypto transfers, and submitting to supervisory oversight and enforcement actions. Summary written by the Atlas from the official text; the law itself prevails. ## Main articles - **Reg. 8**: Specifies the categories of relevant persons subject to the regulations, including financial institutions and cryptoasset businesses. - **Reg. 14A**: Defines cryptoasset exchange providers and custodian wallet providers brought within the scope of AML/CTF regulation. - **Reg. 18**: Requires relevant persons to carry out and maintain a written risk assessment of money laundering and terrorist financing risks. - **Reg. 19**: Mandates establishing and maintaining proportionate written policies, controls, and procedures to mitigate money laundering risks. - **Reg. 27**: Specifies circumstances requiring customer due diligence, including establishing business relationships, occasional transactions, and suspected laundering. - **Reg. 28**: Details required customer due diligence measures, including verifying customer identities and identifying beneficial owners. - **Reg. 33**: Prescribes enhanced customer due diligence obligations for high-risk third countries, complex transactions, and heightened risk scenarios. - **Reg. 35**: Imposes enhanced due diligence, senior management approval, and wealth source scrutiny for politically exposed persons (PEPs). - **Reg. 54**: Directs the FCA and HMRC to maintain mandatory registers of relevant persons, including cryptoasset businesses and MSBs. - **Reg. 56**: Prohibits carrying on business as a cryptoasset business, MSB, or TCSP without being registered with the appropriate authority. - **Reg. 58A**: Establishes the fit and proper test conditions that cryptoasset businesses must satisfy to secure and maintain FCA registration. - **Reg. 64C**: Implements the Travel Rule requiring cryptoasset businesses to send payer and payee information during inter-cryptoasset transfers. - **Reg. 76**: Empowers supervisory authorities to impose administrative financial penalties and publish statements of censure for contraventions. - **Reg. 86**: Creates criminal offences punishable by up to two years' imprisonment and fines for breaching relevant AML/CTF requirements. - **Sch. 6B**: Applies FSMA Part 12 change of control notification and FCA approval requirements to registered cryptoasset businesses. ## Licences it governs - [FM · United KingdomFund manager licenceAlternative Investment Fund Manager (AIFM) Authorisation / RegistrationFCA](https://protegra.io/licensing/licences/fund-manager/united-kingdom-aifm/) ## Regulators that apply it - [United KingdomFinancial Conduct Authority (FCA)The Financial Conduct Authority regulates the conduct of around 35,500 financial services firms and markets across the United Kingdom, and a](https://protegra.io/licensing/regulators/fca-uk/) ## Upcoming changes - 2027-02-01: Entry into force of regulation 34A (enhanced customer due diligence for cryptoasset businesses and correspondent relationships) and related enforcement provisions under S.I. 2026/621 [2] - 2027-10-25: Entry into force of revised FSMA Part 12 change of control modifications for cryptoasset businesses registered on or after 25 October 2027 under Schedule 6B paras 3-4 (S.I. 2026/621) [2] ## Sources 1. [legislation.gov.uk: contents](https://www.legislation.gov.uk/uksi/2017/692/contents): retrieved 2026-09-24 2. [legislation.gov.uk: 1](https://www.legislation.gov.uk/uksi/2026/621/regulation/1): retrieved 2026-09-24 Last verified 2026-09-28 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.