MT Global Limited, a UK based money transfer company, has been fined a record £23.8m for breaching money laundering regulations. The fine covers breaches that took place between July 2017 and December 2019 in relation to risk assessments, record-keeping, policies, controls and procedures, and customer due diligence measures. The fine was included in HMRC's latest list of businesses that have been penalised by HMRC for failing to comply with money laundering regulations.