2023/24 AML Supervision Report published
Our 2023/24 anti-money laundering supervision report has been published. The report provides a comprehensive account of ICAEW’s supervisory activity and continued work to protect against money laundering and other forms of financial crime within the accountancy sector.
We email ICAEW money laundering reporting officers when a new issue of Anti-money laundering – the essentials is available. Anti-money laundering – the essentials is also available to all ICAEW members, please select the anti-money laundering topic from your list of preferences and we will notify you by email when a new issue is available.
Latest AML news
ACSP registration date confirmed: 18 March 2025
- Article
- 13 Mar 2025
Are you a third-party provider planning on carrying out identity verification checks for Companies House on behalf of your clients? Registration to be an authorised company service provider (ACSP) will now open on 18 March 2025 and firms will then be able to voluntarily verify the identity of clients from 8 April. The mandatory verification requirement will take effect in autumn 2025.
The MLRO: an ever-evolving role
- Article
- 04 Mar 2025
Money laundering reporting officers (MLROs) take on specific and personal responsibilities under the anti-money laundering (AML) regulatory regime. We catch up with some experienced MLROs, who offer an insight into how their roles are evolving and discuss the skills they need to meet their obligations.
UK announces largest sanctions package against Russia since 2022
- No content type
- 26 Feb 2025
On 24 February, the UK Government designated 67 individuals and entities and specified 40 vessels under the Russia Sanctions Regime. One existing designation under the Russia Sanctions Regime has been varied.
Updates to the FATF 'grey list'
- No content type
- 24 Feb 2025
The Financial Action Task Force has added Lao PDR and Nepal to the list of jurisdictions subject to increased monitoring but removed the Philippines.
SARs in Action issue 30
- Website
- 20 Feb 2025
The first issue of 2025 covers the UKFIU’s role in tackling Illegal Wildlife Trade, an NECC alert on AI bypassing due diligence, SARs Digital Service Delivery updates, and Operation DESTABILISE’s crackdown on major money laundering networks. Plus, the introduction of "Dear UKFIU," answering your SARs questions.
SARs Reporter Booklet January 2025
- No content type
- 07 Feb 2025
This booklet contains a sanitised summary of feedback from law enforcement agencies (LEAs) on their use of SARs.
Asking the right questions: how to protect against professional enabling
- No content type
- 10 Jan 2025
We will explore the role of accountants in 'high-end' money laundering and the risks and red flags that firms might come across in their day-to-day work. We will also cover the money laundering risk that exists within audit and accounting services and the steps that firms can take to protect themselves against being professional enablers. Finally we will signpost some common pitfalls to help you and your firm ensure you aren’t making these kinds of mistakes and we will finish with a live Q&A.
AML webinar: 2024 AML results and thematic review
- Link
- 06 Jan 2025
Listen back as our anti-money laundering supervisory team discuss the latest monitoring review results and this year’s thematic review on the firm-wide risk assessment.
All available issues of AML: the essentials e-newsletters
Issue 33 October 2024
- Newsletter
- 30 Oct 2024
Read ICAEW’s thematic review on the firm-wide risk assessment, our AML Supervision Report or register for an upcoming webinar where the team will discuss the results reported in both publications. We also signpost recent updates including a Companies House timeline for corporate reform, UKFIU publications and changes to the list of high-risk third countries. Other resources include a new AMLbites video and recent webinar recordings.
Issue 32 July 2024
- Newsletter
- 29 Jul 2024
We launch ICAEW's new guide and website area for those working in AML compliance. Use the guide to help you fulfil your role effectively. We also highlight the recently updated AASG Risk Outlook, explain the proposed new process for ID verification for Companies House, and flag changes to the high risk third countries list you should be aware of.
Issue 31 April 2024
- Newsletter
- 29 Apr 2024
So far in 2024, there have been a number of regulatory and legislative changes, which we share in this edition. We also encourage you to respond to the open consultations and government surveys to ensure that future changes to the anti-money laundering regulatory framework are workable for the accountancy sector.
Issue 30 January 2024
- Newsletter
- 30 Jan 2024
In our 30th issue of AML – the essentials, we remind you of the key changes that occurred at the end of 2023, the new Statutory Instrument that came into force on 10 January 2024 and what resources will help you remain compliant in 2024.
Issue 29 September 2023
- Newsletter
- 21 Sep 2023
In this edition, we share the CCAB AML Guidance that has been updated for the requirements around proliferation financing risk assessments and ongoing discrepancy reporting. We have also included a range of AML resources, an invitation to our next webinar and links to the National Crime Agency’s new SARs Portal and associated guides.
Issue 28 May 2023
- Newsletter
- 26 Apr 2023
In this edition, we remind you about new requirements for ongoing discrepancy reporting that came into force on 1 April 2023, invite you to our next webinar and sign-post guidance and helpful resources such as new AMLbites videos.
Issue 27 January 2023
- Newsletter
- 05 Jan 2023
Read this issue for information on the prohibition on audit services and trust services to Russia, upcoming changes to the Register of Overseas Entities (ROE) Regulations, key points for the accountancy sector from recent changes to the Money Laundering Regulations, the risks of verification work relating to the ROE and access to new resources including a new AMLbites video. We also highlight useful helpline numbers and a demonstration of the upcoming new SARs portal.
Issue 26 November 2022
- Newsletter
- 18 Nov 2022
In our latest AML update we highlight the results of our recent thematic reviews on sanctions and COVID-19 support schemes. We also give an update on the Register of Overseas Entities and provide a link to the UKFIU’s recent webinar showcasing its new suspicious activity reporting portal. There is also a reminder about the range of AML resources that are available including our AML helpline.
Issue 25 July 2022
- Newsletter
- 21 Jul 2022
In this issue, we provide an update on proposed changes to the Money Laundering Regulations, give an invitation to the upcoming cryptoassets webinar and collate the resources issued in response to UK sanctions against Russia.
Issue 24 April 2022
- Newsletter
- 29 Mar 2022
In this issue, we summarise the resources issued in response to UK sanctions against Russia, highlight the implications of the Economic Crime Act and look at the risks associated with virtual assets in the seventh instalment of AML: The Basics.
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Useful links
Please make use of the following resources to ensure you are up-to-date with the latest regulatory information and news: