This is the first HM Revenue and Customs (HMRC) report on its anti-money laundering supervisory activities and wider role in tackling financial crime. It covers the 2 financial years from 2015 to 2017 across all the business sectors it supervised.
The report describes HMRC’s role as an anti-money laundering supervisor under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, how this role is funded, and what HMRC does with this funding.
It explains HMRC’s priorities and achievements in those years, as well as how HMRC’s response to anti-money laundering has been transformed.
The report also covers HMRC’s role in tackling money laundering and other financial crime, and work with other supervisors and law enforcement agencies.
Businesses registered with HMRC, in particular, will be interested in the overviews of each supervised sector.