Find out if your business – or a colleague with whom you’re doing business, has successfully registered for Money Laundering Supervision.
Why is this important?
For businesses with a UK operation:
You need to be an approved Art Market Participant with HMRC in order to continue transacting in ‘works of art’ for the value of 10,000+ Euros.
If your UK business is transacting with another Art Market Participant in the UK:
That other business needs to be regulated under the Money Laundering Regulations in the UK or equivalent AML legislation in another jurisdiction. Providing their business location associated with the transaction is in the UK, they need to be registered as an Art Market Participant*.
The Risk Guidance published by HMRC in June 2021 states:
“As part of your CDD measures, if you are dealing with another AMP you should check on GOV.UK whether the business is registered with HMRC for AML supervision. If not, you should not continue dealing with that AMP. You should consider reporting this activity to the National Crime Agency (NCA) via a SAR. Reporting should also be made to HMRC on GOV.UK. Please note that AMPs have until 10 June 2021 to register with HMRC (and it can take a few weeks to process those applications), so some AMPs may not show as registered before then.”
*Note that if they have recently applied, their business might not yet be on the register linked below. If they are not listed, you can discuss their registration status. IF they have recently submitted their registration, it is likely that HMRC is still reviewing their entry, as it typically takes up to 45 days for registration approval, and there can also be a lag between acceptance and listing on the public register.
Download the latest Register of Supervised Businesses by clicking the image below (published by HMRC on 28th November 2023):
There, scroll down to ‘Check if a business is registered’ and click the hyperlinked text ‘Supervised Business Register’ to download the ODS or CSV file.
Once downloaded and opened, use the ‘search’ box to find if your / another business is listed.
Note that this blog post is updated on a regular basis to include the most recent downloadable list of businesses registered for AML supervision in the UK.