Money Laundering Regulations & Requirements
Flexible workspace providers must register with HMRC for supervision under anti money laundering regulations as a Trust or Company service provider where providing:
Registered office | Business address | Accommodation | Correspondence address or mail forwarding services to business (other than sole proprietors)
HMRC will apply a charge as well as penalties for breaches and failures such as:
Customer due diligence | Risk assessment | Policies | Controls and procedures | Record keeping
We apply practical real-world logic making sure your policy both meets the Regulatory Guidance and fits with your operational culture and the type of clients you have.
Our documents are in plain English structured to fit with the way you and your team work. This ensures Compliance is achievable and takes into consideration that in the Flexible and Serviced Office Industry, every day is different, and some important tasks can get pushed and even forgotten. We ensure you meet your obligations within your Policy, without setting unrealistic targets.
How we can help
Opstech How we can help:
The Opstech team have over 12 years experience dealing with HMRC Money Laundering Regulations and the London Local Authorities Act. We have held positions with some of the largest Serviced Office operators nationally as Nominated Officer's and will guide you on carrying out checks on your business and customers and what records you must keep in order to prevent money laundering.
Pre HMRC inspection Audit | Compliance Document Pack | Risk Assessment | Tailor-made Compliance solutions | Applying Customer Diligence | Training | Strategic Advice to Senior Management | On-going guidance & support