HMRC’s anti-money laundering compliance officers are set to begin a programme of telephoning businesses registered with, and supervised by HMRC, under the Money Laundering Regulations (MLR) 2007, reports chartered accountant Harris & Co.
These calls will be in addition to - and will complement - ongoing HMRC compliance activity. HMRC will be contacting businesses to make sure that up to date information is held about their activities.
HMRC can ask registered businesses for this information under Regulation 37 of the MLR 2007 and say it has proved to be a very cost effective way for both ‘customers’ and HMRC supervisors to conduct its compliance activity.
During the calls the HMRC officers will confirm their identity and ask businesses for their security information. They will ask for details of business activities, customers and also answer any questions. This will help HMRC decide whether a visit is needed and give businesses the opportunity to clarify any issues they may have.
More details are available from HMRC.