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Counter-Terrorism Act 2008

Counter-Terrorism Act 2008

2008 CHAPTER 28

Commentary on Sections

Part 5 – Terrorist Financing and Money Laundering

Terrorist financing and money laundering

Section 62 – Terrorist financing and money laundering

178.Section 62 introduces Schedule 7 to the Act. Schedule 7 sets out new powers for the Treasury to direct financial and credit institutions to take certain action in respect of business with persons in a non-EEA country of money laundering, terrorist financing or proliferation concern. The Schedule also makes provision for a supervisory regime, and for the imposition of civil and criminal penalties.

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