Posts Tagged ‘MSB guidance’
06.01.12 Identifying counterfeit euros
Identifying counterfeit euros - consultation decision HM Treasury (HMT) have published the results of their consultation on the UK's implementation of European Union (EU) Regulations 44/2009 and 45/2009, requiring Currency Exchange Offices and Money Transmitters to have procedures in place selectively to check euro notes and coins using an approved method. Following ...
29.01.11 Pilot scheme to give law enforcement agencies access to MSB register
A new scheme is being piloted to give police and other law enforcement agencies access to information held on HMRC's Money Service Business (MSBs) register. Under the scheme each month agencies will be given details of all Money Service Businesses in their area held on the MSB register. The register is ...
16.04.10 Decision on appeal against registration under the Money Laundering Regulations 2003
Decision on appeal against registration under the Money Laundering Regulations 2003 A First-tier Tribunal (Tax Chamber) decision regarding registration of businesses under the Money Laundering regulations 2003 has now been published. The Appellant had claimed that it was not liable to register with HMRC under the Money Laundering Regulations 2003 because it ...
23.09.09 HMRC announce MSB online register
HMRC had recently sent out a letter to all Money Service Businesses (MSBs) to tell them about their intention to publish an online MSB register by the end of 2009. This register is currently being developed and will be called the MSB online registration check. When finished it will allow for ...
02.09.09 BTC to participate in HMRC Forum for TCSP’s
Steve O’Neill of Business Tax Centre has been chosen to be a part of HMRC’s supervisory forum for Trust and Company Service Providers. This is the second such forum organised by HMRC, the first being one for large money service businesses. The forums organised by HMRC’s ‘Money Laundering Regulations Team’ meet ...
20.08.09 HMRC has published its Code of Practice for supervisory purposes for visits to businesses under Money Laundering Regulations (COP28).
HMRC has published its Code of Practice for supervisory purposes for visits to businesses under Money Laundering Regulations (COP28). This Code of Practice tells you what you can expect from HMRC Supervisory staff and what they expect of you when they visit your business under the Money Laundering Regulations 2007. The ...
26.04.09 HMRC issue revised guidance to MSB’s
This guidance is being sent to Money Service Businesses (MSBs) with a copy of the first direction issued under the Counter Terrorism Act 2008 Schedule 7 which affects them and will shortly be included in Public Notice MLR8: Preventing money laundering and terrorist financing. Who is this guidance for? This guidance is ...
16 March 2009 HM Treasury warns businesses of serious threats posed to the international financial system
The Financial Action Task Force (FATF) has announced that it remains concerned by Iran’s failure to meaningfully address the deficiencies in its Anti-Money Laundering and Combating Terrorist Financing (AML/CTF) regime, particularly in respect of terrorist financing and suspicious activity reporting. The FATF has called on its members to consider effective countermeasures ...
19/02/09 Increase in the Money Laundering annual registration fee
HMRC today announce an increase of the annual registration fee for businesses registered under the Money Laundering Regulations 2007 to £120. The sectors affected are Money Service Businesses, High Value Dealers, Trust or Company Service Providers and Accountancy Service Providers. The Money Laundering Regulations supervisory regime is run on a full ...
03/02/09 Important information for Money Service Businesses (MSBs)
This note is to alert all Money Service Businesses (MSBs) to HM Treasury’s new powers to issue directions under the Counter Terrorism Act which came into force on 26 November 2008. What powers does HM Treasury have? HM Treasury (HMT) may give a direction if one or more of the following apply: • The ...
