Anti-Money Laundering and Counter Terrorist Financing: Supervision Report 2019-20

Annual report for 2019 to 2020 on anti-money laundering and counter-terrorist financing supervision.

Downoad: Anti-money laundering and counter-terrorist financing: Supervision Report 2019-20

This report provides information about the performance of AML/CTF supervisors between 6 April 2019 – 5 April 2020 and fulfils the Treasury’s obligation, under Section 51 of the MLRs, to publish an annual report on supervisory activity. The report includes supervisory and enforcement data on both the statutory and Professional Body Supervisors, highlighting any notable changes in supervisory activity and any fines that supervisors have issued. The report concludes that actions taken by supervisors have remained broadly consistent with the previous reporting period whilst also noting that there is still more work to do to achieve greater consistency in approach to supervision and enforcement. The Treasury will continue to work with supervisors to build on progress made so far and lead the global fight against illicit financial flows.

The Treasury appoints supervisors to monitor the anti-money laundering (AML) and counter-terrorist financing (CTF) compliance of businesses in scope of the Money Laundering Regulations (MLRs). In order to improve the transparency and accountability of supervision and to encourage good practice, the Treasury has worked with supervisors to develop this annual report on the performance of AML/CTF supervisors. The report fulfils the Treasury’s obligation under the MLRs to ask all designated AML/CTF supervisors to provide information on their supervisory activity and publish a consolidated review of this information. This is the Treasury’s ninth annual report on AML/CTF supervision.

Published 19 November 2021

Article credit: https://www.gov.uk/government/publications/anti-money-laundering-and-counter-terrorist-financing-supervision-report-2019-20