Section 19(4)

The policies, controls and procedures referred to in paragraph (1) must include policies, controls and procedures— which provide for the identification and scrutiny of— any case where— a transaction is unusually complex or unusually large in each case given the nature of the transaction, or there is an unusual pattern of transactions, or the transaction or transactions have no apparent economic or legal purpose, and any other activity or situation which the relevant person regards as particularly likely by its nature to be related to money laundering or terrorist financing; which specify the taking of additional measures, where appropriate, to prevent the use for money laundering or terrorist financing of products and transactions which might favour anonymity; which ensure that when new products, new business practices (including new delivery mechanisms) or new technology are adopted by the relevant person, appropriate measures are taken in preparation for, and during, the adoption of such products, practices or technology to assess and if necessary mitigate any money laundering or terrorist financing risks this new product, practice or technology may cause; under which anyone in the relevant person's organisation who knows or suspects (or has reasonable grounds for knowing or suspecting) that a person is engaged in money laundering or terrorist financing as a result of information received in the course of the business or otherwise through carrying on that business is required to comply with— Part 3 of the Terrorism Act 2000 ; or Part 7 of the Proceeds of Crime Act 2002 ; which, in the case of a money service business that uses agents for the purpose of its business, ensure that appropriate measures are taken by the business to assess— whether an agent used by the business would satisfy the fit and proper test provided for in regulation 58; and the extent of the risk that the agent may be used for money laundering or terrorist financing.

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Source: legislation.gov.uk · retrieved 2026-09-04