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The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 reg 52B

reg 52B Obligation of confidentiality: offence

(1) Any person who discloses information in contravention of regulation 52A is guilty of an offence. (2) A person guilty of an offence under paragraph (1) is liable— (a) on summary conviction— (i) in England and Wales, to imprisonment for a term not exceeding three months, to a fine or to both, (ii) in Scotland or Northern Ireland, to imprisonment for a term not exceeding three months, to a fine not exceeding the statutory maximum or to both; (b) on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both. (3) In proceedings for an offence under this regulation, it is a defence for the accused to prove— (a) that the accused did not know and had no reason to suspect that the information was confidential information; and (b) that the accused took all reasonable precautions and exercised all due diligence to avoid committing the offence.

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