The Scope of Money Laundering Regulations: Registration: Background and Principles
The money laundering regulations apply to certain businesses and cover:
credit and financial institutions, auditors, accountants, tax advisers and insolvency practitioners, independent legal professionals, trust or company service providers, estate agents, high value dealers, bill payment service providers, telecommunication, digital and IT payment service providers and casinos. We say that these businesses fall within scope of the regulations unless they are covered by any of the exemptions in regulation 15.
All other businesses fall outside the scope of the regulations together with any of the businesses listed above that are exempted.
We have provided guidance to help businesses decide whether they fall within the scope of the regulations and therefore need to register with us, but we cannot provide a definitive interpretation of the law, which can only be done by the courts. This guidance is our interpretation of the law. This means that in deciding whether a person has failed to comply with a requirement of the Regulations in relation to registration, HMRC will consider whether the business has followed the registration guidance.