What are the Money Laundering Regulations?

Some businesses are required to register under the Money Laundering Regulations (MLR), particularly when operating in high risk sectors.
Consultants and independent professionals who are acting for clients in high risk sectors at director level are required to register with HMRC or with their own professional body for supervision before carrying out any relevant business activities.

In addition, anyone who is providing accountancy services at any level in the private sector, regardless of whether qualified or not, will have to register under the heading of Accountancy Service Provider (ASP). However, the public sector is excluded from the regulations.

Full details of those affected can be found on the HMRC website.

Amy FowlerWhat are the Money Laundering Regulations?