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Anti-money laundering

Written procedures

This page is part of a series on the 10 most common issues we've found when reviewing firms' compliance with the Anti-money Laundering Regulations.
See the 10 most common issues
Firms should be setting out clear procedures on how they comply with the Money Laundering Regulations. We ask to see our firms’ written procedures on monitoring reviews.

Why is this important?

AML policies and procedure should be designed to ensure a firm complies with the requirements of the Money Laundering Regulations. Staff should have access so that they understand how the firm complies with the regulations and what they need to do to facilitate that compliance.

What we found in our 2021/22 AML compliance reviews

At some firms, we find that they don’t have any written procedures or that they aren’t sufficiently tailored to how the firm performs its CDD checks. (Where the firm has subscribed to a training provider manual, we will expect to see this tailored to the circumstances of the firm.)

Resources to support compliance

Read the report

Read our 2021/22 anti-money laundering supervision report for more detail on the results of our monitoring reviews, the outcomes of those reviews and enforcement action taken. The report also summarises all of our anti-money laundering supervisory activity during the period.