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HMRC internal manual

Money Laundering Regulations: Compliance

Compliance visit tests: Checking compliance under the Risk Based Approach: ASPs and TCSPs

For ASPs and TCSPs the basic requirements for effective AML controls are compliance with the minimum legal requirements for customer due diligence and the ability to recognise higher-risk situations and respond with additional measures to mitigate the increased risk and identify and report suspicious activity to SOCA.