These regulations appear, in practice, to be a source of great aggravation to innocent poeple, designed to produce an army of Victor Meldrews!! The practised criminals will find ways around these irritants.
Amend these regulations so that a credit card company (Co-op Visa) cannot say to me that it is illegal for me to pay my credit card bill with cash!!
The Money Laundering Regulations are too wide in their application, causing unneccessay aggravation to honest citizens trying to carry out unremarkable transactions. They apply to activities with quite small monetary values. They also mean people feeling affronted at having to establish their identity over and over again.