Money Laundering Regulations

Does your business comply with MLRs?

If you handle money or assets, i.e. your business accepts cash payments of €15,000 or more (or equivalent in any currency) in a single or linked transaction in exchange for goods; you need to register with HM Revenue and Customs (HMRC) for supervision under the Money Laundering Regulations (MLRs).


The Money Laundering Regulations 2007 came into effect in the UK on 15th December 2007 and they cover a variety of business types. If your business is covered by the regulations, you need to make sure that your legal obligations under the regulation are met and complied with. HMRC are active in enforcing Money Laundering Regulations (MLRs) and many businesses are currently receiving costly civil penalties and even criminal prosecutions for failing to comply with the regulations.

HMRC have stated that the period of educating businesses as to their obligations is over and that non-compliance will now be dealt with by civil penalties and/or criminal prosecution. There has been a significant increase in MLR penalties and you must therefore act now to ensure you are compliant and protect your business.

Want to satisfy HMRC?

The Due Diligence Exchange Ltd (DDE) has a dedicated, experienced and professional team on-hand to help, support and guide you through the compliance process. So if you are a High Value Dealer (HVD) or a Money Service Business (MSB), we provide policy documents and systems to successfully satisfy Money Laundering Regulations in meetings with HMRC. We also devise and provide both offline and online training in MLRs for you and your staff.

When you work with us, you will be able to:

  • Have in place necessary anti-money laundering policy documents and procedures
  • Risk access your business structure and form effective mitigating controls and policies
  • Providing in-depth due diligence, policies and procedures including source of cash funding checks
  • Check the identity of your customers and ‘beneficial owners’ of corporate bodies and partnerships
  • Monitor your customers’ business activities and instil effective Suspicious Activity Reporting procedures
  • Make sure you have the necessary management control systems in place
  • Have auditable records and documents that relate to financial transactions, the identity of your customers, risk assessment and management procedures and processes
  • Ensure your employees are aware of the regulations and have had the necessary training

Unsure if you are satisfying money laundering regulations, or just want to find out more… get in touch with us today.