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HMRC issues largest ever fine for regulations breach

HMRC supervises more than 30,000 businesses across the UK, including 1,500 principal money service businesses (MSBs), to help these firms protect themselves from criminals who seek to launder cash or finance terrorism


HM Revenue and Customs (HMRC) has issued a £23.8m fine to money transfer company MT Global Limited for breaches of regulations between July 2017 and December 2019. It marks the largest ever fine handed out by the body.

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