A searchable register of the businesses supervised by the OFT under the Money Laundering Regulations 2007 has been made public for the first time today.
Under the Regulations, estate agents and some businesses engaging in consumer credit lending are supervised by the OFT to reduce the risk of them being used for money laundering or terrorist financing purposes. These businesses need to register with the OFT.
A non-public register has been in place since 2009, however making the list of registered businesses searchable on the OFT website allows the public, industry, and regulators including Trading Standards to check and notify the OFT if businesses are not registered.
The register also allows supervised businesses to make sure their basic information is up-to-date and accurate.
The register can be accessed at the following link: click here