New anti money laundering guidance
HMRC have launched a new set of sector specific guidance in relation to the anti-money laundering regulations. These guides replace the previous guidance published in August 2008 which has now been withdrawn.
The new publications provide detailed guidance in relation to the legislation, risks, record keeping and reporting requirements relevant to each business sector.
Three separate guides have been published for the following sectors:
- Anti money laundering guidance for Money Service Businesses
- Anti money laundering guidance for High Value Dealers
- Anti money laundering guidance for Trust or Company Service Providers
At the present time, HMRC have not published specific guidance for accountancy service providers (ASPs) who should continue to refer to the Consultative Committee of Accountancy Bodies (CCAB) guidance on the issue. HMRC may publish specific advice for (ASPs) in the future.