MLR1PP4100 - Penalties Guidance: Types of assistance we can give to businesses

Where there is a genuine misunderstanding we believe that it is always better to initially adopt an enabling approach to improve compliance rather than to issue an immediate penalty.

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

The types of assistance available from us during an Intervention or Visit include:

• Verbal guidance and advice. An experienced Officer will be very well placed to offer businesses practical day to day advice on how anti-money laundering procedures and controls can be improved even if only minor weaknesses are found
• Written guidance and advice, where appropriate businesses will be directed to our public notices and guidance on our website. If a business has no internet access Officers should issue copies of appropriate documents to the business shortly after the visit. There will be occasions where specific written advice will be given to a business after a visit, which falls short of a warning letter
• Invitations to a seminar, road show or other event. Our Officers will make businesses aware of any future events that are planned