Accountants fined £99k for breaking AML rules

April 5, 2024

"‘All accountancy firms or individual accountants must register with HMRC before carrying out any activities, so their AML compliance can be monitored....The latest HMRC report on businesses that failed to comply with anti-money laundering (AML) regulations from 1 April 2023 to 30 September 2023 showed that 408 businesses were fined £2,277,893 with charges ranging from £1,350 to a maximum penalty of £52,000...."

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