Sanctions and Anti-Money Laundering Act 2018
On 1 May 2018, the UK House of Commons, without opposition, added the "Magnitsky amendment" to the Sanctions and Anti-Money Laundering Bill that allowed the British government to impose sanctions on people who commit gross human rights violations.[1][2]
| Act of Parliament | |
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| Long title | An Act to make provision enabling sanctions to be imposed where appropriate for the purposes of compliance with United Nations obligations or other international obligations or for the purposes of furthering the prevention of terrorism or for the purposes of national security or international peace and security or for the purposes of furthering foreign policy objectives; to make provision for the purposes of the detection, investigation and prevention of money laundering and terrorist financing and for the purposes of implementing Standards published by the Financial Action Task Force relating to combating threats to the integrity of the international financial system; and for connected purposes. |
|---|---|
| Citation | 2018 c. 13 |
| Introduced by | Boris Johnson (Commons) Tariq Ahmad, Baron Ahmad of Wimbledon (Lords) |
| Territorial extent | United Kingdom |
| Dates | |
| Royal assent | 23 May 2018 |
Status: Current legislation | |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
By 12 July 2020, the Act was being used to sanction 49 individuals, of whom 25 were Russian, 20 were Saudi Arabian, two were from Myanmar and two organisations were North Korean.[3] Chief Executive of Hong Kong Carrie Lam was mentioned in Parliament by both parties that month in connection with the Act.[3]
From the 31st December 2020, types of sanctions in the UK have changed due to Brexit and it is important that all organisations comply with and understand the new laws.
References
- Smith, Ben; Dawson, Joanna (27 July 2018). "Magnitsky legislation" (PDF). House of Commons.
- "UK lawmakers back 'Magnitsky amendment' on sanctions for human rights abuses". Reuters. 1 May 2018. Archived from the original on 29 January 2019.
- Clowes, Ed (12 July 2020). "UK joins game of Russian roulette with sanctions plan". Telegraph Media Group Limited.
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