6. U.K. Regulation of Money Service Businesses
Author:
David Faulkner
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Abstract

This paper describes both how the United Kingdom regulates its money service businesses and how, in doing so, it fulfills the requirements of Financial Action Task Force (FATF) Special Recommendation VI. Recommendation VI calls on countries to take measures to ensure that informal money or value transfer systems are licensed or registered and subject to all the FATF recommendations that apply to banks and nonbank financial institutions.

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