Anti-money laundering and counter-terrorist financing (AML/CTF)

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This Overview is a guide to the Lexis+® UK Financial Services subtopic: ‘Anti-money laundering and counter-terrorist financing (AML/CTF)’ and includes links to the appropriate materials. AML/CTF requirements have general application; this subtopic considers the application the UK’s anti-money laundering (AML), counter terrorist financing (CTF) and counter proliferation financing (CPF) legal and regulatory regime to firms authorised by the Financial Conduct Authority (FCA) under the Financial Services and Markets Act 2000 (FSMA 2000) or firms registered with the FCA for supervision under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs).

What is money laundering, terrorist financing and proliferation financing?

Money laundering (ML) is the process by which the proceeds of crime are converted into assets which appear to have a legitimate origin in order that they can be retained permanently or recycled into further criminal enterprises.

In general terms, terrorist financing (TF) is the provision or collection of funds from legitimate or illegitimate sources with the intention or in the knowledge that they should be used in order to carry out any act of terrorism,

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Financial Services—other developments (25/7/2025)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

ECON Committee proposes major changes to EU corporate sustainability reporting rules

The European Parliament's Committee on Economic and Monetary Affairs (ECON) adopted an opinion on 15 July 2025, proposing significant amendments to EU corporate sustainability reporting requirements. The opinion recommends increasing the reporting threshold to companies with over 5,000 employees and €450m in net worldwide turnover, replacing the current 1,000-employee threshold. For value chain reporting, companies would be prevented from seeking information from business partners below these thresholds, thereby significantly reducing reporting obligations.

IFRS Foundation publishes near-final guidance on reporting uncertainties in financial statements

The International Financial Reporting Standards (IFRS) Foundation has published near-final examples that illustrate how companies can improve disclosure of uncertainties in their financial statements, using climate-related scenarios as illustrations. Developed by the International Accounting Standards Board (IASB) in response to stakeholder feedback regarding insufficient uncertainty reporting, these examples are applicable to all types of uncertainties, not solely those related to climate. The IASB collaborated with the International Sustainability Standards Board (ISSB) to ensure alignment with sustainability disclosure requirements. Final examples are anticipated in October 2025.

European Commission publishes guidelines for green bond disclosure templates

The European Commission has published guidelines establishing voluntary pre-issuance disclosure templates for bonds marketed as either environmentally sustainable or sustainability-linked. These templates support the EU's objective of achieving climate neutrality by 2050 by standardising disclosures for issuers using the EU Taxonomy, thereby complementing the European Green Bond Standard and filling a market gap in demonstrating taxonomy-aligned bond proceeds allocation. The guidelines provide two detailed templates: one for environmentally sustainable bonds, which requires issuers to detail their environmental strategy, the intended allocation of bond proceeds, environmental impacts, and reporting commitments; and another for sustainability-linked bonds, which focuses on the environmental strategy, bond characteristics, performance indicators, and reporting requirements.

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