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HMRC internal manual

MLR1 Penalties Guidance

From
HM Revenue & Customs
Updated
, see all updates

Penalties guidance: other related breaches

Other customer due diligence measures:

  • Regulation 9 - failure to comply with the requirements on timing of verification of identity of clients and any beneficial owner(s)
  • Regulation 11 - continuing with transaction/business relationship where unable to apply customer due diligence measures

Registration breaches:

  • Regulation 26, 27(4) and 33 - failure to register and failure to notify changes affecting registration. These breaches are subject to a fixed penalty and unpaid fees or a modified penalty framework. See MLR1PP9400 

Other breaches:

  • Regulation 21 - failure to take appropriate measures to provide the required training