Insider dealing and money laundering etc. Amendments to the Proceeds of Crime Act 2002 and Anti-Terrorism, Crime and Security Act 2001: Payment and E-Money Institutions
POCA provides the statutory basis for money laundering offences in the UK as well as the statutory basis for asset freezing, confiscation and civil recovery in the context of criminal finance. In regard to asset freezing and forfeiture, ATCSA provides for equivalent regimes in the context of terrorism financing.
	The Act amends Part 7 of POCA to extend the threshold amount provisions to payment and e-money institutions. This will allow payment and e-money institutions in certain circumstances to continue to operate accounts by executing transactions below the threshold amount in certain circumstances without the need to seek consent in each case and without committing a principal money laundering offence.
	The Act also amends POCA and ATCSA to ensure that accounts maintained by payment and e-money institutions are subject to the account freezing and forfeiture powers in Chapter 3B of Part 5 of POCA (in England and Wales and Scotland) and Part 4B of Schedule 1 to ATCSA (across the UK).