A High-Value Dealer (HVD) under UK AML regulations refers traditionally to businesses handling transactions involving goods valued at €10,000 (approximately £8,500) or more, particularly in cash. However, recent changes expand this definition beyond cash transactions to include high-value digital transactions.
This means luxury interior designers, whose projects frequently involve large purchases such as bespoke furniture, artworks, or antiques, may now fall under HVD regulations regardless of payment methods. Consequently, if your design projects or individual transactions surpass the €10,000 threshold, you are likely considered an HVD and must comply with comprehensive AML regulations, including client identity checks, sanctions screenings, and HMRC registration.
Private escrow accounts provide security, trust and transparency to ongoing or ad-hoc payment requirements.
Third-Party Managed Accounts (TPMA's) are a convenient way to manage complex, high-value or even routine payment operations.
.jpeg)
.jpeg)
.jpeg)
