News

Proceeds of Crime (Money Laundering) (Threshold Amount) (Amendment) Order 2025

06 August 2025

As of 31 July 2025, the threshold amount for submitting a defence against money laundering (DAML) has been increased from £1,000 to £3,000.

This is, however, subject to the following conditions - all of which need to be met:

• The transaction must:
  • take place in the regulated sector
  • involve money or property valued at less than £3,000
  • involve transferring or handing over to the client money or other property which belongs to or is owed to the client
  • be made for the purpose of exiting the relationship with the client.
• The firm must have complied with their duty to carry out CDD.

You should also note that, even when this applies, it applies only to DAMLs. Subject to any privilege considerations, a suspicious activity report may still need to be made on an information basis.