Government publishes AML supervision report

The Government has published its AML and CTF supervision report for 2019-2020. The report notes the system has been strengthened significantly over recent years. The FATF report on the UK in 2018 had noted significant failings in the risk-based approach almost all the supervisors take, and good progress is being made towards addressing these. At at May 2021, 20 of th the 52 original actions had been delivered.

The report sets out the key principles under which each supervisor works and its stated priorities, and their approaches to registration and enforcement.