ECSH34020 - What if you're unable to check the business' compliance with MLR 2017

Introduction

During your initial case review with the business, there may be scenarios where you are unable to check the business’s compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017). For example, you may be unable to trace the business and consider it is “missing”, or you establish that a business has registered in error and is not a “relevant person”.

For compliance, you must not give a “compliant” outcome, such as a closure letter or advice letter, where you have been unable to test the business’s compliance with MLR 2017. Please discuss the circumstances of your case with your line manager, and where necessary the sector specialist, to decide the most appropriate outcome. (This content has been withheld because of exemptions in the Freedom of Information Act 2000)