Home AML AML News HMRC doubles fines for money-laundering

HMRC doubles fines for money-laundering

60

The UK tax authority almost doubled the fines it handed down for violations of money-laundering rules in the latest financial year, as the government steps up efforts to root out suspicious cash.

HM Revenue & Customs, which oversees compliance with anti money-laundering regulations by businesses including accounting firms, estate agents and dealers in luxury goods such as art and jewellery, fined companies £2.3m in 2017-18, up from £1.2m a year earlier.