HM Treasury has published a consultation paper on the government’s approach to implementation of the MLD4 and those aspects of the Wire Transfer Regulation (WTR) that need to be transposed into national law. Where appropriate, the government intends to employ copy-out of MLD4, together with industry guidance. The government recognises that both new legislation and amendments to existing legislation will be needed and it will only gold-plate where there is good evidence that a material money laundering or terrorist financing risk exists that must be addressed. The government intends that the new provisions will come into force by 26 June 2017 and comments are invited by 10 November 2016.