ECSH43545 - Registration exemptions by sector: High value dealers
Although the scenarios below are not Regulation 15 exclusions, they are worth considering as out of scope of Regulation 14.
A business does not need to register as a high value dealer (HVD) for anti-money laundering supervision if:
They only receive payments for services or goods and services where the value of the goods are less than 10,000 euros, this can be in a single transaction or in several smaller transactions which appear to be linked.
They are only ever paid large amounts by credit card, debit card or cheque.
A business must register for anti-money laundering supervision straight away if it decides that it will accept or make high value cash payments.
(This content has been withheld because of exemptions in the Freedom of Information Act 2000)