Gov't Tells UK Professional Groups To Tighten AML Controls
By Najiyya Budaly (November 22, 2021, 4:17 PM GMT) -- The professional bodies overseeing lawyers and accountants must do more to ensure that they consistently enforce anti-money laundering rules to help stamp out weaknesses in identifying high-risk areas, the government has said.
HM Treasury said in a report published on Friday that the British authorities should do more to ensure that they are consistent in how they oversee the risk that money laundering and terrorist financing takes place at the firms they are responsible for.
The Treasury probed the performance of the 22 supervisory agencies, including the Solicitors Regulation Authority, the Bar Standards Board and the Institute of Chartered Accountants in...
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