This work covers the regulation and enforcement around transferring money, payments and remittance activities carried out by providers such as payment services, money service businesses and other entities that move funds on behalf of clients. A solicitor in this area helps clients register with the regulator, ensure compliance with anti‑money laundering rules, draft and implement policies, and handle investigations or enforcement actions. It also covers disputes with banks, counterparties and customers where mis‑ transmitted funds or fraud are alleged.
What a solicitor handles in these matters
A solicitor handles the regulatory framework, including registering as a payment services provider, complying with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, and engaging with the FCA and PSR. They draft compliance manuals, review customer due diligence, advise on sanctions checks, and manage investigations or disputes arising from erroneous transfers, frozen funds or chargebacks.
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