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HMRC internal manual

Money Laundering Regulations: Compliance

HM Revenue & Customs
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Business sector specific Guidance: Money Service Businesses: General Compliance Checks at a Cheque Cashers.

Credibility checks

There are risks associated with cheque cashers themselves and officers need to obtain the following information.

* Establish how long the business has been trading.
* For new businesses confirm whether the Nominated Officer or person directing the business has had previous experience of cheque cashing
* Confirm the source of cash used to pay customers. Do they purchase any cash from other businesses?
* Confirm what security measures are in place.
* Can the business support the cost of the accommodation if the trading premises are rented?