Money Laundering: Fines

HM Treasury written question – answered on 20th July 2016.

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Photo of Frank Field Frank Field Chair, Work and Pensions Committee, Chair, Work and Pensions Committee

To ask Mr Chancellor of the Exchequer, what the total value is of fines levied by HM Revenue and Customs and the Foreign and Commonwealth Office on how many people for which categories of money laundering offence in each of the last four financial years; how many individuals appealed against such fines; and how many such appeals were successful.

Photo of Jane Ellison Jane Ellison The Financial Secretary to the Treasury

As one of the 27 UK anti-money laundering supervisors, HM Revenue and Customs (HMRC) has powers to impose civil penalties on businesses that are supervised by HMRC if they do not comply with their obligations under the Money Laundering Regulations 2007. The Foreign and Commonwealth Office is not an anti-money laundering supervisor.

Criminal fines for money laundering offences under the Money Laundering Regulations 2007 and Proceeds of Crime Act 2002 can only be imposed by UK courts.

The total number and value of civil penalties charged by HMRC in relation to breaches of the Money Laundering Regulations 2007 in the last four years is shown in the table below. The figures for 2012-13 and 2013-14 were not recorded in a way that separately identified registration and compliance penalties. The figures for 2015-16 are not currently available.

HMRC civil penalties for breaches of the Money Laundering Regulations

Year

Total £

Total no.

Compliance (£)*

Compliance (No.)*

Registration (£)

Registration (No.)*

2012-13

160,967

268

-

-

-

-

2013-14

438,712

318

-

-

-

-

2014-15

768,205

677

388,224

42

379,981

635

2015-16

Data not available.

* Before 2014-15, the number of registration and compliance penalties were not recorded separately.

HMRC does not collate the total numbers of appeals lodged and upheld in relation to HMRC civil penalties charged under the Money Laundering Regulations.

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