HMRC has published updated guidance for MSBs on understanding risks and taking action. It confirms that MSBs are seen as attractive vehicles for criminals and gives examples of how MSBs have been used for money laundering and the financing of terrorism. The guidance gives a table of key risk indicators generally and for particular sectors of the market – specifically money transmitters, currency exchange, forex and cheque cashers.
HMRC updates MSB guidance
Scales of Justice ( Lady of Justice) of the Central Criminal Court fondly known as The Old Bailey in the city of London, England, UK