|Money Laundering Regulations||CORPORATE GOVERNANCE & REGULATION|
The Money Laundering Regulations (MLR) are designed to protect the UK financial system and put in place certain controls to prevent businesses being used for money laundering by criminals and terrorists.
Many businesses are monitored by the Financial Services Authority or certain professional bodies. However, businesses that HMRC is responsible for supervising should be aware of the requirement to register with HMRC and the penalties for not doing so.
HMRC is responsible for supervising the following five business types:
April 13th, 2017