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 (with individual monthly rents of €10,000 or more)
- 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.
You may need to register with HMRC if you:
- are an estate agency business
- handle cash payments of €10,000 or more in exchange for goods
- do not have a listed supervising body
| Supervising bodies | Contact details |
|---|---|
| Association of Chartered Certified Accountants (ACCA) | www.accaglobal.com [email protected] 0141 582 2000 |
| Association of Accounting Technicians (AAT) | [email protected] 020 7397 3008 |
| Association of International Accountants (AIA) | www.aiaworldwide.com [email protected] 0191 4930272 |
| Association of Taxation Technicians (ATT) | www.att.org.uk [email protected] 020 7340 0551 |
| Chartered Institute of Legal Executives (CILEx) | For advice on compliance www.cilex.org.uk [email protected] 01234 845777 If you have concerns about a CILEx member or entity: |
| Chartered Institute of Management Accountants (CIMA) | www.cimaglobal.com [email protected] |
| Chartered Institute of Taxation (CIOT) | www.tax.org.uk [email protected] 020 7340 0550 |
| Council for Licensed Conveyancers (CLC) | www.clc-uk.org [email protected] 01245 349599 |
| Department for the Economy Northern Ireland | www.economy-ni.gov.uk [email protected] 028 9054 8532 |
| Faculty of Advocates | www.advocates.org.uk 0131 260 5825 Advocates Library, Parliament House Edinburgh EH1 1RF |
| Faculty Office of the Archbishop of Canterbury | www.facultyoffice.org.uk [email protected] Telephone: 020 7222 5381 Fax: 020 7222 7502 The Joint Registrars The Faculty Office 1 The Sanctuary Westminster, SW1P 3JT |
| Financial Conduct Authority (FCA) | www.fca.org.uk |
| Gambling Commission | www.gamblingcommission.gov.uk [email protected] Telephone: 0845 606 9966 Telephone: 0121 230 6666 Fax: 0121 230 6720 Victoria Square House Victoria Square Birmingham, B2 4BP |
| General Council of the Bar | www.barcouncil.org.uk [email protected] 020 7242 0082 |
| General Council of the Bar of Northern Ireland | www.barofni.com |
| Institute of Accountants and Bookkeepers (IAB) | www.iab.org.uk [email protected] 01732 897 756 Compliance Team Suite 5, 20 Churchill Square Kings Hill, Kent, ME19 4YU |
| Insolvency Practitioners Association (IPA) | [email protected] 020 7397 6407 Insolvency Practitioners Association Valiant House, 4-10 Heneage Lane London, EC3A 5DQ |
| Institute of Certified Bookkeepers | www.bookkeepers.org.uk [email protected] 0845 060 2345 |
| Institute of Chartered Accountants in England and Wales (ICAEW) | www.icaew.com [email protected] 01908 248 250 |
| Institute of Chartered Accountants in Ireland (ICAI) | Regulatory issues: [email protected] Technical enquiries: [email protected] |
| Institute of Chartered Accountants of Scotland (ICAS) | www.icas.com [email protected] 0131 347 0271 |
| Institute of Financial Accountants (IFA) | www.ifa.org.uk [email protected] 020 3567 5999 |
| Law Society of Northern Ireland | www.lawsoc-ni.org [email protected] Telephone: 028 9023 1614 Fax: 028 9023 2606 Law Society House 96 Victoria Street Belfast BT1 3JN |
| Law Society of Scotland | www.lawscot.org.uk [email protected] 0131 226 7411 |
| Solicitors Regulation Authority (SRA) Solicitors in England and Wales | For advice on compliance www.lawsociety.org.uk [email protected] 0870 606 2522 If you have concerns about a solicitor: If you are in the legal profession and have a concern about another solicitor: |
