Notts business fined for breaching money-laundering rules

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They've received hefty fines

Nottinghamshire businesses have been fined for breaching HMRC anti-laundering rules. , and on Thursday, June 8 the government department published the details of businesses which had not complied with these rules between July 1 and December 31, 2022.

"It has been rectified and we paid the fine, it is as simple as that - it was nothing sinister. We actually were going through some compliance upgrades, registered with them, and then annoyingly got a fine." HMRC has a range of enforcement powers that it can use for businesses which do not comply with the Money Laundering Regulations, including civil penalties, criminal proceedings and removal from the register. Inspire UK Property Investment Limited, registered at Minster Gardens in Newthorpe, also had to pay up for failing to apply for registration at the required time.

 

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