ECSH32650 - Pre-registration intervention
The purpose of a pre-registration intervention is to ensure that a business which is required to be registered for anti money laundering supervision, is aware of its legal responsibilities and that robust procedures are in place to mitigate the risk of money laundering, terrorist financing and proliferation financing before carrying out relevant business. This includes checking whether the business has taken appropriate steps to identify and assess the risks of money laundering, terrorist and proliferation financing to which it is subject, has kept a written record of its risk assessment and can provide information on which it was based. See ECSH33205.
Remember, businesses within an approvals sector can legally trade once an application to register has been received.
Authorisations caseworkers may decide that an intervention is needed in order for them to determine the application. See ECSH44415 for more information on requesting a compliance intervention.
(This content has been withheld because of exemptions in the Freedom of Information Act 2000)
(This content has been withheld because of exemptions in the Freedom of Information Act 2000)