Regulation of anti-money laundering and counter-terrorist financing—table of relevant authorities—law firms
Regulation of anti-money laundering and counter-terrorist financing—table of relevant authorities—law firms

The following Practice Compliance guidance note provides comprehensive and up to date legal information covering:

  • Regulation of anti-money laundering and counter-terrorist financing—table of relevant authorities—law firms

This Practice Note provides a quick reference guide to the bodies that have anti-money laundering (AML) and counter-terrorist financing (CTF) responsibilities in the UK. For more detailed information on enforcement, see Practice Note: Money Laundering Regulations 2017—Enforcement, offences and penalties—law firms.

Category Body Role(s)
UK Government Home Office Responsible for UK primary legislation, eg Proceeds of Crime Act 2002 (POCA 2002).

Strategic planning, including:
—police strategy and resourcing
—asset recovery

Chairs (with HM Treasury) Money Laundering Advisory Committee (MLAC), a forum for key stakeholders to coordinate the AML regime and review its efficiency and effectiveness.
HM Treasury Represents UK in EU and Financial Action Task Force (FATF).

Implements EU Directives, principally through the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692.

Approves industry guidance under POCA 2002, Terrorism Act 2000 and MLR 2017.

Responsible for the implementation and administration of the UK’s financial sanctions regime.

Chairs (with Home Office) MLAC.
International Financial Action Task Force (FATF) Inter-governmental policy-making body.

Sets overriding principles and standards for