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HMRC internal manual

Money Laundering Regulations: Registration

Trust or Company Service Providers (TCSPs): Why are TCSPs covered by the MLRs?

Trust or company service providers are covered by the regulations as their services may be used by money launderers to, for example:

  • set up complex trust or company structures to hide the origin of funds or beneficial ownership
  • use nominee shareholders or directors to hide the identity of the business owners.
  • use of accomodation addresses to hide criminal activity