Money laundering regulations.

If you handle money or assets, i.e. your business accepts cash payments of €15,000 or more (or equivalent in any currency) in a single or linked transaction in exchange for goods; you need to register with HM Revenue and Customs (HMRC) for supervision under the Money Laundering Regulations (MLRs).

Does your business comply with MLRs?

The Money Laundering Regulations 2007 came into effect in the UK on 15th December 2007 and they cover a variety of business types. If your business is covered by the regulations, you need to make sure that your legal obligations under the regulation are met and complied with. HMRC are active in enforcing Money Laundering Regulations (MLRs) and many businesses are currently receiving costly civil penalties and even criminal prosecutions for failing to comply with the regulations.

HMRC have stated that the period of educating businesses as to their obligations is over and that non-compliance will now be dealt with by civil penalties and/or criminal prosecution. There has been a significant increase in MLR penalties and you must therefore act now to ensure you are compliant and protect your business.

Want to satisfy HMRC?

The Due Diligence Exchange Ltd (DDE) has a dedicated, experienced and professional team on-hand to help, support and guide you through the compliance process. So if you are a High Value Dealer (HVD) or a Money Service Business (MSB), we provide policy documents and systems to successfully satisfy Money Laundering Regulations in meetings with HMRC. We also devise and provide both offline and online training in MLRs for you and your staff.When you work with us, you will be able to:

Unsure if you are trading legally, want to find out if you are affected or need guidance, support or more information then get in touch today!

Contact Us