Accountancy Daily on 4th September reported that Touma Foreign Exchange Ltd of West London has been handed a record fine after it breached strict AML/CFT rules. The company was fined by HMRC for a wide range of serious failures under the Money Laundering Regulations between June 2017 and September 2018. Hassanien Touma was also banned on 20th May from any management roles at a business governed by AML regulations after he acted as an officer for the money service business and failed to pass a vetting test to ensure he was fit and proper to carry out the role.
This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y