ECSH47533 - Refusing an application for registration: Contents : Refusing registration: Operational guidance: Refusing an application: When to update the watchlist

The Economic Crime-Supervision (EC-S) watchlist is a spreadsheet which holds details of businesses that may require further checks if the business should reapply for anti-money laundering supervision. Further guidance relating to the EC-S Watchlist is available in ECSH34235.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

When you refuse an application for anti-money laundering supervision, you should consider any money laundering, terrorist financing or proliferation financing (ML/TF/PF) risks presented by the business to decide if it is necessary for caseworkers to be notified of this risk should the business submit a further application. In this event, you should enter the business’ details into the EC-S watchlist and explain the reason for refusal.

The following is a list of reasons for refusal that should not typically be added to the Watchlist:

  • The business has ceased trading.
  • The business is out of scope of the Regulations.
  • The business has failed to add a missing Beneficial Owner, Officer, or Manager to its application.
  • The business has failed to amend its application.
  • You have refused the business, or it has asked to withdraw its application because:
    • It has applied as the wrong legal entity.
    • It has applied as the wrong sector.
    • It has applied as the wrong sub-sector.
    • It has applied as through the wrong Government Gateway account.
    • The business’ name has been misspelled on the application form.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

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