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HMRC internal manual

MLR1 Penalties Guidance

Penalties Guidance: Related breaches under EU Regulation 2015/847

Failing to keep records:

  • Article 16  failure of a payment service provider of the payer, payee and an intermediary payment service provider to retain records for the required period

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Failing to obtain, verify, or provide complete customer information:

  • Article 4 failure of the payment service provider of the payer to provide complete information on the payer and payee accompanying transfers of funds
  • Article 5 failure of the payment service provider of the payer in relation to information where the transfer of funds is within the EEA
  • Article 6 failure of the payment service provider of the payer in relation to information where the transfer of funds to outside the EEA

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Failures in relation to information accompanying transfer of funds:

  • Article 7 failure of the payment service provider of the payee to implement procedures to detect missing information on the payer or the payee
  • Article 8 failure of the payment service provider of the payee to implement effective risk based procedures to determine whether to execute, reject or suspend a transfer of funds with missing or incomplete information on the payer or the payee
  • Article 9  failure of the payment service provider of the payee to take account of missing or incomplete information on the payer or payee as a factor in assessing and reporting suspicious transactions
  • Article 10 failure of an intermediary payment service provider to ensure that information on the payer and the payee is retained with the transfer
  • Article 11 failure of an intermediary payment service provider to implement effective procedures to detect whether the information on payer and payee is admissible and  complete 
  • Article 12 failure of an intermediary payment service provider to establish effective risk based procedures to determine whether to execute, reject or suspend a transfer of funds with missing or incomplete information on the payer or the payee and to take appropriate follow up action
  • Article 13 failure of an intermediary payment service provider to take account of missing or incomplete information on the payer or payee as a factor in assessing and reporting suspicious transactions

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Failure in relation to request for information and data protection:

  • Article 14 failure of a payment service provider of the payer, payee and an intermediary payment service provider to respond fully and without delay to enquiries from the authorities to requests for information
  • Article 15 failure of a payment service provider of the payer, payee and an intermediary payment service provider to process data only for the purpose of  the prevention of money laundering and terrorist financing