AML regulations UK: the complete guide

The UK Money Laundering Regulations 2017 require regulated firms — accountants, solicitors, estate agents, trust and company service providers, and others — to identify their clients, monitor activity, and report suspicions. Compliance is a daily operational discipline, not a once-a-year task.

KYC requirements for UK accountants and solicitors

UK accountants and solicitors are "relevant persons" under the Money Laundering Regulations 2017 and must perform Customer Due Diligence (CDD) on every client before starting work. This means identifying the client, verifying that identity with reliable evidence, and identifying beneficial owners for corporate clients.

The MLRO role: duties and how to do it well

The Money Laundering Reporting Officer (MLRO) is the named senior person responsible for receiving internal money-laundering concerns at a UK regulated firm and deciding whether to file Suspicious Activity Reports with the National Crime Agency. The MLRO must be senior, independent, accessible, and have sufficient authority to act. Done well it is a serious role. Done as a tick-box, it exposes the firm.