{"id":219,"date":"2025-01-13T15:54:56","date_gmt":"2025-01-13T15:54:56","guid":{"rendered":"https:\/\/suppliers.duchyofcornwall.org\/?page_id=219"},"modified":"2026-01-20T10:08:02","modified_gmt":"2026-01-20T10:08:02","slug":"anti-money-laundering-help-page","status":"publish","type":"page","link":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/anti-money-laundering-help-page\/","title":{"rendered":"Anti money laundering help page"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\"><strong>Help notes: Anti-Money Laundering<\/strong><\/h4>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-accent-5-background-color has-background\"><strong>Can your organisation show how it meets regulatory requirements for anti-money laundering?<\/strong><\/h4>\n\n\n\n<p>This question is about having measures in place to prevent money laundering (exchanging money or assets that were obtained criminally for money or assets that are \u2018clean\u2019).<\/p>\n\n\n<div class=\"wp-block-ub-content-toggle\" id=\"ub-content-toggle-253a029c-73a3-47e9-a608-f9377e0be545\" data-mobilecollapse=\"false\" data-desktopcollapse=\"true\">\n<div class=\"wp-block-ub-content-toggle-accordion\" id=\"ub-content-toggle-panel-block-\">\n                <div class=\"wp-block-ub-content-toggle-accordion-title-wrap\"\" aria-controls=\"ub-content-toggle-panel-0-253a029c-73a3-47e9-a608-f9377e0be545\" tabindex=\"0\">\n                    <p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-253a029c-73a3-47e9-a608-f9377e0be545\"><strong>What is a &#8216;Yes&#8217; for me?<\/strong><\/p><div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span>\n                    <\/div><\/div><div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-253a029c-73a3-47e9-a608-f9377e0be545\">\n\n<p>This would normally mean <strong>registering for money laundering supervision<\/strong> with the HMRC, the FCA, the Law Society or another relevant supervisory authority or professional body (see list of supervisory bodies).&nbsp;&nbsp;<\/p>\n\n\n\n<p>The following are examples of other anti-money laundering measures which may be appropriate for your organisation. Depending on the supervisory body, registration will normally need some of these to be in place.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Customer Due Diligence: Checking customers are who they say they are. e.g. Confirming identity; Monitoring changing circumstances&nbsp;<\/li>\n\n\n\n<li>Internal controls and ongoing monitoring: e.g. Nominated responsible staff ensuring compliance checks; employee training; documenting and updating policies and procedures; including as part of normal business&nbsp;<\/li>\n\n\n\n<li>An anti-money laundering policy statement&nbsp;<\/li>\n\n\n\n<li>Keeping appropriate records<\/li>\n<\/ul>\n\n<\/div><\/div>\n<\/div>\n\n<div class=\"wp-block-ub-content-toggle\" id=\"ub-content-toggle-5f1797ef-791c-464a-b794-912188fec798\" data-mobilecollapse=\"false\" data-desktopcollapse=\"true\">\n<div class=\"wp-block-ub-content-toggle-accordion\" id=\"ub-content-toggle-panel-block-\">\n                <div class=\"wp-block-ub-content-toggle-accordion-title-wrap\"\" aria-controls=\"ub-content-toggle-panel-0-5f1797ef-791c-464a-b794-912188fec798\" tabindex=\"0\">\n                    <p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-5f1797ef-791c-464a-b794-912188fec798\"><strong>Does this question apply to me? Is this a regulatory requirement?<\/strong><\/p><div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span>\n                    <\/div><\/div><div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-5f1797ef-791c-464a-b794-912188fec798\">\n\n<p>Only organisations where regulations apply need to answer this question. The regulations apply to some business sectors, including accountants, financial service businesses, estate agents and solicitors. (see Relevant Sectors below)&nbsp;<\/p>\n\n\n\n<p>See a full list at <a href=\"http:\/\/www.gov.uk\/guidance\/money-laundering-regulations-who-needs-to-register#businesses-covered-by-the-regulations\" target=\"_blank\" rel=\"noreferrer noopener\">www.gov.uk\/guidance\/money-laundering-regulations-who-needs-to-register#businesses-covered-by-the-regulations<\/a>&nbsp;<\/p>\n\n\n\n<p>For relevant organisations, registering for money laundering supervision is a legal requirement.&nbsp; Money laundering is a criminal offence in the UK.<\/p>\n\n<\/div><\/div>\n<\/div>\n\n<div class=\"wp-block-ub-content-toggle\" id=\"ub-content-toggle-d628fcee-50e1-4a0a-a187-dac824747383\" data-mobilecollapse=\"false\" data-desktopcollapse=\"true\">\n<div class=\"wp-block-ub-content-toggle-accordion\" id=\"ub-content-toggle-panel-block-\">\n                <div class=\"wp-block-ub-content-toggle-accordion-title-wrap\"\" aria-controls=\"ub-content-toggle-panel-0-d628fcee-50e1-4a0a-a187-dac824747383\" tabindex=\"0\">\n                    <p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-d628fcee-50e1-4a0a-a187-dac824747383\"><strong>Anti money laundering: relevant sectors<\/strong><\/p><div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span>\n                    <\/div><\/div><div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-d628fcee-50e1-4a0a-a187-dac824747383\">\n\n<p>The regulations apply to some business sectors, including accountants, financial service businesses, estate agents and solicitors.&nbsp;&nbsp;<\/p>\n\n\n\n<p>See a full list at <a href=\"http:\/\/www.gov.uk\/guidance\/money-laundering-regulations-who-needs-to-register#businesses-covered-by-the-regulations\" target=\"_blank\" rel=\"noreferrer noopener\">www.gov.uk\/guidance\/money-laundering-regulations-who-needs-to-register#businesses-covered-by-the-regulations<\/a>&nbsp;<\/p>\n\n\n\n<p>Broadly the sectors to which the regulations apply are:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.gov.uk\/guidance\/money-laundering-regulations-money-service-business-registration\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Money service businesses<\/strong><\/a> (not supervised by the Financial Conduct Authority (FCA)). A business is a money service business if it:&nbsp;\n<ul class=\"wp-block-list\">\n<li>acts as a bureau de change or currency exchange office&nbsp;<\/li>\n\n\n\n<li>transmits money, or any representation of money (just collecting and delivering money as a cash courier is not transmitting money)&nbsp;<\/li>\n\n\n\n<li>cashes cheques that are payable to your customers&nbsp;<\/li>\n\n\n\n<li>takes payments on telecommunications, digital and IT devices and acts as an intermediary between a payer and supplier&nbsp;<\/li>\n\n\n\n<li>provides a payment service for utility and other household bills&nbsp;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>High value dealers<\/strong> handling cash payments for goods totalling 10,000 euros or more on a single transaction or linked transactions&nbsp;<\/li>\n\n\n\n<li><strong>Trust or company service providers<\/strong>, whose business is to:&nbsp;\n<ul class=\"wp-block-list\">\n<li>Form companies or other legal persons<\/li>\n\n\n\n<li>Provide details or arrangements for companies, partnerships or other legal persons&nbsp;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><a href=\"https:\/\/www.gov.uk\/guidance\/money-laundering-regulations-accountancy-service-provider-registration\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Accountancy service providers<\/strong><\/a><strong> <\/strong>eg. Auditors, accountants, tax advisors, bookkeeping&nbsp;<\/li>\n\n\n\n<li><strong>Estate agency businesses<\/strong>&nbsp;<\/li>\n\n\n\n<li><strong>Bill payment service providers&nbsp;<\/strong>&nbsp;<\/li>\n\n\n\n<li><strong>Telecommunications, digital and IT payment service providers<\/strong><\/li>\n\n\n\n<li><strong>Art market participants<\/strong> buying or selling of works of art where the transaction value (or a series of linked transactions) is 10,000 euros or more&nbsp;<\/li>\n\n\n\n<li><strong>Letting agency businesses <\/strong>renting property or land valued at the equivalent of 10,000 euros or more a month&nbsp;<\/li>\n<\/ul>\n\n<\/div><\/div>\n<\/div>\n\n<div class=\"wp-block-ub-content-toggle\" id=\"ub-content-toggle-436ee0ef-6926-4ca5-a3f8-492e85a84ec9\" data-mobilecollapse=\"false\" data-desktopcollapse=\"true\">\n<div class=\"wp-block-ub-content-toggle-accordion\" id=\"ub-content-toggle-panel-block-\">\n                <div class=\"wp-block-ub-content-toggle-accordion-title-wrap\"\" aria-controls=\"ub-content-toggle-panel-0-436ee0ef-6926-4ca5-a3f8-492e85a84ec9\" tabindex=\"0\">\n                    <p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-436ee0ef-6926-4ca5-a3f8-492e85a84ec9\"><strong>List of supervisory bodies for anti money laundering\u00a0<\/strong><\/p><div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span>\n                    <\/div><\/div><div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-436ee0ef-6926-4ca5-a3f8-492e85a84ec9\">\n\n<ul class=\"wp-block-list\">\n<li>HMRC (all businesses not supervised by another body in the list below)&nbsp;<\/li>\n\n\n\n<li>FCA&nbsp;<\/li>\n\n\n\n<li>Gambling Commission&nbsp;<\/li>\n\n\n\n<li>Association of Chartered Certified Accountants&nbsp;<\/li>\n\n\n\n<li>Association of Accounting Technicians&nbsp;<\/li>\n\n\n\n<li>Association of International Accountants&nbsp;<\/li>\n\n\n\n<li>Association of Taxation Technicians&nbsp;<\/li>\n\n\n\n<li>Chartered Institute of for Legal Executives&nbsp;<\/li>\n\n\n\n<li>Chartered Institute of Management Accountants&nbsp;<\/li>\n\n\n\n<li>Chartered Institute of Taxation&nbsp;<\/li>\n\n\n\n<li>Council for Licensed Conveyors&nbsp;<\/li>\n\n\n\n<li>Faculty of Advocates&nbsp;<\/li>\n\n\n\n<li>Faculty Office of the Archbishop of Canterbury&nbsp;<\/li>\n\n\n\n<li>General Council of the Bar&nbsp;<\/li>\n\n\n\n<li>General Council of the Bar of Northern Ireland&nbsp;<\/li>\n\n\n\n<li>Insolvency Practitioners Association&nbsp;<\/li>\n\n\n\n<li>Institute of Certified Bookkeepers&nbsp;<\/li>\n\n\n\n<li>Institute of Chartered Accountants in England and Wales&nbsp;<\/li>\n\n\n\n<li>Institute of Chartered Accountants in Ireland&nbsp;<\/li>\n\n\n\n<li>Institute of Chartered Accountants of Scotland&nbsp;<\/li>\n\n\n\n<li>Institute of Financial Accountants&nbsp;<\/li>\n\n\n\n<li>Institute of Accountants and Bookkeepers&nbsp;<\/li>\n\n\n\n<li>Law Society&nbsp;<\/li>\n\n\n\n<li>Law Society of Scotland&nbsp;&nbsp;<\/li>\n\n\n\n<li>Law Society of Northern Ireland&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Some Money Services businesses need to be registered with both HMRC and FCA.&nbsp;<\/p>\n\n\n\n<p>See government guidance at <a href=\"https:\/\/www.gov.uk\/guidance\/money-laundering-regulations-who-needs-to-register#businesses-covered-by-the-regulations\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.gov.uk\/guidance\/money-laundering-regulations-who-needs-to-register#businesses-covered-by-the-regulations<\/a>&nbsp;&nbsp;<\/p>\n\n<\/div><\/div>\n<\/div>\n\n<div class=\"wp-block-ub-content-toggle\" id=\"ub-content-toggle-a7e92506-b2e2-46a4-b117-77ce48560f59\" data-mobilecollapse=\"false\" data-desktopcollapse=\"true\">\n<div class=\"wp-block-ub-content-toggle-accordion\" id=\"ub-content-toggle-panel-block-\">\n                <div class=\"wp-block-ub-content-toggle-accordion-title-wrap\"\" aria-controls=\"ub-content-toggle-panel-0-a7e92506-b2e2-46a4-b117-77ce48560f59\" tabindex=\"0\">\n                    <p class=\"wp-block-ub-content-toggle-accordion-title ub-content-toggle-title-a7e92506-b2e2-46a4-b117-77ce48560f59\"><strong>Next steps<\/strong><\/p><div class=\"wp-block-ub-content-toggle-accordion-toggle-wrap right\"><span class=\"wp-block-ub-content-toggle-accordion-state-indicator wp-block-ub-chevron-down\"><\/span>\n                    <\/div><\/div><div role=\"region\" aria-expanded=\"false\" class=\"wp-block-ub-content-toggle-accordion-content-wrap ub-hide\" id=\"ub-content-toggle-panel-0-a7e92506-b2e2-46a4-b117-77ce48560f59\">\n\n<p>Read the government guidance <a href=\"https:\/\/www.gov.uk\/guidance\/money-laundering-regulations-your-responsibilities\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.gov.uk\/guidance\/money-laundering-regulations-your-responsibilities<\/a>&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Register with a supervisory body (here HMRC):&nbsp; <a href=\"https:\/\/www.gov.uk\/guidance\/register-or-renew-your-money-laundering-supervision-with-hmrc\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.gov.uk\/guidance\/register-or-renew-your-money-laundering-supervision-with-hmrc<\/a><\/p>\n\n<\/div><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Help notes: Anti-Money Laundering Can your organisation show how it meets regulatory requirements for anti-money laundering? This question is about having measures in place to prevent money laundering (exchanging money or assets that were obtained criminally for money or assets that are \u2018clean\u2019).<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-no-title","meta":{"ub_ctt_via":"","footnotes":""},"class_list":["post-219","page","type-page","status-publish","hentry"],"featured_image_src":null,"_links":{"self":[{"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/pages\/219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/comments?post=219"}],"version-history":[{"count":15,"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/pages\/219\/revisions"}],"predecessor-version":[{"id":993,"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/pages\/219\/revisions\/993"}],"wp:attachment":[{"href":"https:\/\/suppliers.duchyofcornwall.org\/index.php\/wp-json\/wp\/v2\/media?parent=219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}