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The UK Money Transmitters Association

(UKMTA) represents Payment Institutions regulated by the Financial Conduct Authority. All Payment Institutions must also comply with the money laundering regulations, which are supervised by HM Revenue and Customs.

In 2014, the Association will:

  • Hold four London conferences plus issue specific meetings at which those with an interest in payment services can come together to discuss issues of common concern.
  • Be the representative of the industry with the UK government and within the European Union - in particular, to ensure that the voice of smaller and medium sized firms is heard.
  • Engage in dialogue with UK regulators to ensure that the relevant laws and regulations are fairly and consistently applied.
  • Establish and promote 'best practice' models in connection with issues such as effective customer due diligence procedures, transaction monitoring, client funds safeguarding, etc.
  • Facilitate the provision of training, information and support to Payment Institutions to help them comply with the laws and regulations.
  • Seek to establish and promote shared high standards across the payment services and money transfer industry.
  • Establish an effective dialogue with the UK banks to ensure that they behave reasonably in their relations with payment firms.
  • Promote the benefits and advantages of the payments sector to consumers and other customers.