Premier League club structures carry money laundering risks

[Piethagoram 𝕏 @piethagoram]

 

[Robbie 𝕏 @Robbie_NCFC]

Are Companies checked for money laundering risks in the UK?

"Yes, companies in the UK are checked for money laundering risks, with regulations requiring businesses to perform "Customer Due Diligence" (CDD) checks, which involve verifying customer identities and assessing potential risks of money laundering activities, particularly for businesses dealing with high-value transactions or cash-intensive operations; this is overseen by HMRC who can conduct inspections to ensure compliance with Money Laundering Regulations". 

Key points about money laundering checks for UK companies:

CDD checks:

"Essential part of anti-money laundering compliance, involving background checks and verifying customer identities to mitigate money laundering risks". 

Risk assessment:

"Companies need to assess their own money laundering risks and implement appropriate controls based on their business activities". 

Suspicious Activity Reporting:

"Businesses must report any suspicious transactions to the National Crime Agency". 

Regulatory body:

"HMRC is responsible for enforcing money laundering regulations and can conduct inspections on businesses". 

Via Google.

[Piethagoram 𝕏 @piethagoram]

I have long advocated that UEFA and FIFA should not be allowed to hide behind Swiss secrecy laws