- business relationship
In the context of money laundering, an arrangement between two or more persons, one of whom must be acting in the course of a business. The purpose of the arrangement is for transactions to take place on a frequent or regular basis between those people. Further, at the start of that relationship, the total monetary value of transactions which are to be made during the course of dealings is not ascertainable. For example, a person who becomes a new client of a stockbroker and who is to carry out regular dealings in equities for the client would be forming a business relationship within the scope of the Money Laundering Regulations 1993.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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