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Money laundering offenders to be named

Publishing statements

5.12 Under Regulation 85 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs), implemented in June 2017, HMRC has a duty to publish details of penalties, naming your business or an individual after it issues a penalty notice.

These details will be published on the GOV.UK website for at least 5 years and can include:

● your name or the name of the business and the registered address

● the nature of the breach(es)

● the penalty HMRC has issued

● the status of any appeal against the issuing of the penalty

5.13 HMRC will publish these details anonymously in situations where it considers that publishing the details of you, or your business, would be disproportionate or may affect the stability of the financial markets. It will also not publish if it considers the penalty to be of a minor nature. Only penalties that apply to the new regulations will be considered.

5.14 HMRC intends to start publishing in 2018. Prior to this, you will be notified of HMRC’s decision to publish relating to your specific penalty – in full, anonymously or not at all. You will have 30 days at this stage to make representations to HMRC against publication

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