FIN. TeamThe new regulator for anti-money laundering, the Office for Professional Body Anti-Money Laundering Supervision (OPBAS), was launched on 18 January 2018 thereby strengthening the UK’s anti-money laundering (AML) supervisory regime.
OPBAS is housed within the FCA and will facilitate collaboration and information sharing between the professional body AML supervisors, statutory supervisors, and law enforcement agencies.
In addition, the OPBAS has published a sourcebook for professional body AML supervisors about how they can meet their obligations in relation to AML supervisors. The sourcebook takes effect on 1 February 2018.
