Corporate report

Businesses not complying with money laundering regulations in 2018 to 2019

A list of businesses that have not met their obligations under the 2017 regulations.

Documents

Details

As a supervisor of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, which came into effect on 26 June 2017, HMRC has a duty to publish details of businesses that have been penalised for not complying with the regulations.

Businesses that need to be registered by HMRC must register and ensure that they comply with their obligations under the regulations, for example, by ensuring they have adequate policies and procedures in place.

HMRC considers cases individually to decide whether to publish details in full, anonymously, or not at all. Where a decision is made to publish in full, the following information may be published:

  • the name and address of the business owner or business
  • the nature of the breach or breaches
  • the penalty issued by HMRC
  • the status of any appeal against the penalty

HMRC publishes anonymously if it considers that the effect of publishing details about an individual or business would be disproportionate. In addition, it does not publish details at all if it decides that a penalty under these regulations is minor or may affect financial markets significantly.

These details will be published regularly on GOV.UK and will be available to view for at least 5 years. They only apply to breaches under the 2017 regulations and can include:

  • details of businesses that have received penalties for non-compliance with the regulations
  • details of businesses that have not registered for HMRC supervision under the regulations
  • a list of breaches where HMRC has decided that the business should be anonymous
  • the total number and value of minor penalties issued under the 2017 regulations

The monetary value of a penalty issued under the 2017 regulations may be part of a larger penalty that incorporates breaches of the 2007 regulations as well.

HMRC will also publish the total number and value of penalties issued under the 2007 regulations for the period.

Please note that this information refers to civil breaches of the regulations and not to criminal offences.

You can read guidance about penalties and appeals.

Published 4 October 2018
Last updated 20 May 2019 + show all updates
  1. Added lists of businesses receiving penalty notices between 1 November 2018 and 5 April 2019.
  2. Appeal status for Delta Tax Agents Ltd changed from ‘No appeal’ to ‘Under appeal’.
  3. Added details relating to 1 August 2018 to 31 October 2018.
  4. First published.