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... Germany, Ireland, Spain, the Netherlands and the U.K.Member states have a level of discretion in implementing the directive. It is important, therefore, that regulated UK professionals and business ensure that their own procedures are independently compliant with the 2003 Regulations, even where anti money laundering client checks have been complied with in another Member states. The most significant impact of the directive is to bring lawyers and other professionals and business in Europe within the money laundering regime and imposes new duties to report suspicious transactions relating to criminal property and the proceeds of crime to the relevant UK authorities (Predominantly NCIS but can be made to, among other, the Inland Revenue, Customs and Excise, the CPS and the police).There are also new offences within POCA to prevent tipping off. Traditionally, money laundering has been viewed as the processing of illegal or dirty money derived from the proceeds of a any ...