By AAT Comment Anti-money laundering AAT’s Anti Money Laundering annual report 2024-2025 17 Oct 2025 Our latest AML annual report is out now. We hope it’s useful in considering your own firm’s compliance and encourage you to share it with all colleagues and staff. Please read our latest Anti-money laundering annual report (PDF) for an overview of our anti-money laundering (AML) supervisory activities for the year. It includes a summary of our practice assurance review activity, the outcomes of those monitoring reviews, along with the enforcement action and monetary fines imposed on members who fail to meet their legal obligations. This report also summarises our supervisory approach, our most common anti-money laundering findings, any emerging threats and how we effectively share intelligence. We expect our members to continually review the resources and guidance provided by AAT to ensure that they are up to date and compliant with the regulations. AML related materials are easily accessible to all our supervised members on the AAT website and our Knowledge Hub. This allows us to proactively increase awareness and promote compliance around the extensive AML requirements. Are you ready for your Practice Assurance Review? Members, learn what a Practice Assurance Review is, what you can expect if you are selected for one as well as what you’ll need to prepare in advance. Find this new CPD Bitesize module in the Featured CPD collection on the Lifelong Learning Portal. Prepare yourself now AAT’s AML helpline Further guidance and support on risk management and other components of Money Laundering Regulations compliance is available on AAT’s AML webpage. You can also contact us on +44 (0)20 7367 1347 or via email [email protected]. Future of supervision On 21 October 2025, the Government confirmed that the AML supervision for accountancy, legal and Trust and Company Service Provider sectors will move to a single professional services supervisor (SPSS), specifically the Financial Conduct Authority. While this is a big shift, implementation is likely to take years. In the meantime, AAT will continue as the AML supervisor for our licensed members and carry out our normal responsibilities, including Practice Assurance Reviews and risk assessment activities. Therefore, our members must ensure full compliance with the MLR 2017. More on the consultation response can be found here. Further guidance and support on risk management and other components of Money Laundering Regulations compliance is available on our AML webpage. You can also contact us on +44 (0)20 7367 1347 or via email at [email protected]. Are you ready for your Practice Assurance Review? Members, learn what a Practice Assurance Review is, what you can expect if you are selected for one as well as what you’ll need to prepare in advance. Find this new CPD Bitesize module in the Featured CPD collection on the Lifelong Learning Portal. Prepare yourself now AAT Comment offers news and opinion on the world of business and finance from the Association of Accounting Technicians.