New figures from HM Revenue & Customs have raised questions over the agency's supervision of trust and corporate services providers at a time when the sector is set to take on far greater responsibility for vetting company owners and directors under new legislation. HMRC, which oversees more than 37,000 firms across nine sectors for anti-money laundering purposes, including money services businesses, trust and corporate services providers, estate agents and art dealers, published a report on Oct. 6 showing a substantial uptick in supervisory and enforcement activity. The number of desk-based reviews and onsite inspections of companies' AML controls conducted by...
HM Revenue and Customs released an updated version of its annual economic crime supervision report covering the period from April 1, 2021, to March 31, 2022.
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