Which of the following is NOT a requirement for HVDs under money laundering regulations?

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The correct choice highlights that "only accepting payments via credit card" is not a requirement for high-value dealers (HVDs) under money laundering regulations. In the context of such regulations, HVDs must implement comprehensive measures to combat money laundering, which includes various obligations such as staff training, identifying and reporting suspicious transactions, and registering with relevant authorities for cash payments above certain thresholds.

The requirement for training staff is crucial because it ensures that individuals involved in transactions are aware of the signs of money laundering and know how to respond appropriately. Identifying and reporting suspicions is a foundational duty for HVDs that allows authorities to track and prevent illicit activity effectively. Registering with HMRC for cash payments is also mandatory in order to ensure compliance and facilitate monitoring of cash transactions that could potentially be used for money laundering.

In contrast, the stipulation that payments should only be accepted via credit card is not a defined requirement; it is more about managing risks associated with different payment methods rather than an outright mandate. Therefore, the emphasis on credit card payments does not align with the fundamental obligations set forth in money laundering regulations for HVDs.

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