UK Accountants Urged to Check Internal AML Policies by HMRC

By in

Accountants and service providers in the UK have been reminded to evaluate their internal AML procedures after the HMRC have been sending large penalties to non-compliant money laundering regulating estate agents since the start of last month.

Following a week-long money laundering clampdown, the HMRC made 50 surprise visits to estate agents and service providers across the UK. The impromptu raids of estate agents operating without the necessary Money Laundering Regulations marked the HMRC’s public naming and shaming of businesses that do not comply with the necessary regulations.