Anti-money laundering registration
Find out more about anti-money laundering registration
Practices that hold a Category A Consumer Credit Licence should be aware that anti money laundering registration is required by 31 January 2010, with completed registration forms being sent to the Office of Fair Trading by 18 December 2009.
Most practices that would fall under this should have been contacted, for those unsure as to whether they should be registering, guidance is available at www.oft.gov.uk/amlregistration or by calling the helpline 020 7211 8200.
A consumer credit licence is not applicable if practices are giving clients a payment schedule that does not exceed 4 instalments over an 11 month period. Extended credit and interest charging would make you liable.
Veterinary practices, as with other small businesses, although considered `low risk’ will need to comply with this registration.