Day 17 of Christmas

Anti-money laundering registration 

If you run a business in the financial sector, you may need to register with an anti-money laundering scheme. 


Some businesses and individuals in the UK must register with a supervisory authority to follow anti-money laundering regulations. 


Who needs to register 

The regulations apply to: 


  • financial and credit businesses 
  • independent legal professionals 
  • accountants, tax advisers, auditors and insolvency practitioners 
  • trust and company service providers 
  • estate agency businesses 
  • letting agency businesses 
  • casinos 
  • high value dealers (handling cash payments of €10,000 or more in exchange for goods) 
  • art market participants (buying, selling or storing art worth €10,000 or more) 


How to register 

You must register with the supervisor that regulates your industry sector. You’re breaking the law if you carry on a business activity covered by the regulations but do not register with a supervisory authority. 


You should check with your professional body about what to do if you believe you should be supervised for compliance with the regulations. 



Bookkeeping is a regulated profession following the revisions to the Money Laundering Regulations (MLRs) in 2007 and again in 2017. If you are providing a bookkeeping service to clients or are seen as carrying out bookkeeping ‘by way of business’ you must: 


  • be monitored by an HM Treasury appointed supervisory authority, such as ICB 
  • put in place certain controls to identify, prevent and report money laundering offences – known as anti-money laundering or AML 

Fitness and Propriety 

As per Regulation 26 of the Money Laundering Regulations 2017, external Bookkeepers and Beneficial Owners, Managers and Officers of a Bookkeeping Practice must not have any unspent Schedule 3 criminal convictions relating to fraud and dishonesty.