Introduction: The scope and purpose of this guidance
This guidance is intended to provide information and advice about the principles and good practice that should be applied by HMRC staff involved in anti-money laundering compliance. It does not apply to any other compliance activity undertaken by HMRC.
This guidance is aimed primarily at HMRC staff and should not be relied upon by businesses that are supervised by us to help them comply with the requirements of the Regulations. The guidance businesses should follow is contained in our Public Notices MLR8 and MLR9 and for Accountancy Service Providers, the CCAB guidance.
Businesses may however find this guidance useful in helping them to understand:
- The reasons why we may need to check if a business is compliant with the Regulations
- The range of checks we will need to carry out
- How we will carry out these checks
Compliance Officers will adopt a risk-based approach when checking how effectively businesses have assessed and reduced the risks they have identified within their business and complied with the requirements of anti money laundering legislation.
This guidance is effective from 15 December 2007 and replaces the guidance for the 2001 and 2003 Regulations.
The Money Laundering Regulations, Payments Legislation and Transfer of Funds Regulations 2007 etc are all referred to throughout this guidance using the generic term “the Regulations”.
In line with other MLR supervisors, HMRC have adopted the principles of good regulation in the Regulators Compliance Code within this guidance.
Some sections of this guidance are exempt from release under the Freedom of Information Act 2000 and can not be viewed by the general public. The following message will be shown where this applies. “This text has been withheld because of exemptions in the Freedom of Information Act 2000”.