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HMRC internal manual

Money Laundering Regulations: Registration

From
HM Revenue & Customs
Updated
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Fit and Proper Test: Introduction

The fit and proper (F&P) test only applies to MSBs and TCSPs. The test checks the business and certain individuals against a number of objective criteria set out in regulation 28 of MLR 2007.

The F&P test is carried out as part of the registration process. If any of these negative criteria are met, we must refuse the business’s registration application.

The purpose of the test is to prevent high risk individuals from directing or controlling MSBs and TCSPs, or acting as a Nominated Officer for them. We carry out the checks at registration using information from both outside and inside HMRC.