Should Companies House be outside Money Laundering Regulations??
Tim Hammond
? Expert Ltd Company Accountants ? Looking to buy Accounting Practice in West Midlands ? We will look after your clients and maximise your return!
Just a quick thought; as a chartered accounting practice, we have to adhere to money laundering regulations and request ID and proof of address from our clients.
Ia it right Companies House don't have to?
All you need is a valid email address and anyone can set one up in 5 mins.
Companies House is exempt because they are acting as a statutory registrar for the government and not a business.
They apply Common Sense Checks which basically means they have filled out every section of the form.
Is it no wonder so many criminals go directly to Companies House because of the lack of checks?
There are rumours change is on the way especially in this political climate. But shouldn't the government be in this position in the first place?
Professional firms can be fined huge amounts for non compliance of money laundering regulations. But if criminals go directly to Companies House they can bypass ML regulations.
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