U.K. tax officials fined a money-transfer company a record 23.8 million pounds ($32.4 million) for failing to follow rules designed to prevent money laundering.
MT Global Ltd. breached regulations between July 2017 and December 2019, HM Revenue and Customs said Thursday in a statement. The firm failed to conduct risk assessments, associated record-keeping and customer due-diligence measures, authorities said.
The U.K. is trying to attract and retain banks after its exit from the European Union while avoiding a reputation as light touch on financial crimes. Between 2019 and 2020, HMRC said it stopped 89 businesses and individuals from trading, and ...
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