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ARTICLE · 21 JUNE 2023

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HMRC Money Laundering Penalties

Rahman Ravelli
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money laundering fines it has issued HM Revenue and Customs (HMRC) has published details of hundreds of businesses that it has fined for breaching anti-money laundering rules.

United KingdomCriminal Law
Nicola Sharp
Nicola Sharp
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Nicola Sharp of financial crime specialists Rahman Ravelli considers the statistics released by HM Revenue and Customs about the money laundering fines it has issued.

HM Revenue and Customs (HMRC) has published details of hundreds of businesses that it has fined for breaching anti-money laundering rules.

It fined 240 businesses a total of £3.2 million between 1 July and 31 December 2022 for breaching the Money Laundering Regulations, which are in place to prevent criminals laundering the money they have made through illegal activity. In addition to these named businesses, HMRC imposed smaller fines totalling more than £200,000 on another 179 companies for rule breaches.

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