In Plain English
AI-generatedThe Sanctions and Anti-Money Laundering Act 2018 creates a UK framework for imposing sanctions and for countering money laundering. It gives the government broad powers to establish sanctions regimes and to make anti-money laundering rules, enabling the UK to operate these regimes after Brexit and in cooperation with international partners.
Key Points
- Establishes UK powers to impose, update and enforce sanctions such as asset freezes and travel bans.
- Allows the UK to replicate, adapt or create sanctions regimes and to participate in international sanctions arrangements.
- Provides powers to make anti-money laundering and counter-terrorist financing rules applicable to the financial sector and other businesses.
- Includes mechanisms for Parliament and regulators to oversee and review these powers and their use.
- Primarily implemented through secondary legislation, allowing updates without new primary legislation.
Progress
The bill has completed its passage and received Royal Assent, becoming law. It originated in the Lords before becoming an Act.
Voting
In four report-stage divisions on 1 May 2018, the Aye votes ranged from 295 to 301 and the No votes from 313 to 314. Opposition parties (notably Labour, Liberal Democrats, SNP, Plaid Cymru and Independents) supported the amendments, while Conservative MPs and allies (including DUP and Reform UK) opposed.
Who is affected?
UK banks and financial institutionsOther businesses and professionals subject to AML rules (e.g., lawyers, accountants, money services)Individuals and organisations designated under sanctions regimesUK regulators and government departments administering sanctions and AML measuresPublic authorities involved in enforcing or complying with sanctions and AML rules
Generated 21 February 2026