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HMRC internal manual

Money Laundering Regulations: Compliance

Our risk based approach to supervision: Overall objectives of the risk based approach

The objectives of a risk-based approach are to prevent money laundering and terrorist funding activity occurring through a combination of:

  • Deterrence by applying appropriate customer due diligence measures
  • Detection as a result of monitoring transactions and reporting suspicious activity to NCA; and
  • Record-keeping that will enable investigations into money laundering or terrorist financing to be carried out.