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HMRC internal manual

Money Laundering Regulations: Compliance

Legislation: Simplified due diligence

During compliance checks on businesses compliance officers should make sure businesses are aware of any simplified procedures and encourage them to use them. Although it is not an offence if a business does not use simplified due diligence, where appropriate it is in line with the risk based approach that relevant businesses do not impose unnecessary burdens on their customers. Simplified due diligence should only be carried out in a low risk situation, the business must keep records and show evidence why simplified due diligence was applied.