[2015] UKFTT 0575 (TC)

Judge John Walters QC, Mr Roland Presho FCMA

Decision released 24 November 2015

Money Laundering Regulations 2007 – Wholesaler of spirits in bond for cash – High value dealer – Whether in breach of the regulations – Held yes – Whether maximum penalty of £5,000 imposed appropriate – Held no, because maximum penalty imposed on the basis that the breach was deliberate and it was not proved that it was – Held that the imposition of a penalty was appropriate and the amount was fixed at £2,500 – Appeal allowed in part.



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