ICAS publishes 2024/25 AML report

Read our latest Anti-Money Laundering supervision report, presenting the progress and achievements we made between April 2024 and April 2025, with information on our plans for the future.

The Money Laundering Regulations 2017 (MLRs) require ICAS and the other professional body supervisors to publish a report every year setting out how we carry out our AML supervisory functions.

The report covers a 12-month period between April 2024 and April 2025 and aims to provide members, firms, and other interested parties with a better understanding of the actions ICAS takes as an AML supervisor. The report includes:

• Details on our approach to AML supervision.
• Results of monitoring visits during the relevant period.
• Early findings from thematic reviews.
• Common findings, with case studies demonstrating best practice.
• Examples of enforcement and follow-up actions.
• Information on AML support for supervised firms.

Read the 2024/2025 report

AML remains a regulatory priority for ICAS, with expanded teams of experienced professionals undertaking high-quality supervisory work in areas including licensing, monitoring, enforcement and support. As detailed in the report, we have made significant changes in recent years, including our approach to monitoring and how we deal with non-compliance.

We believe that our work shows evidence of improving standards of compliance, with our workplan setting out how we hope to make further progress. However, with the Government’s recent announcement of its intention to transfer supervisory responsibilities for AML to the FCA, ICAS’ role in this area may be more limited in the future. Our response to the announcement is available here, with further communications to firms expected as more information becomes available.

See previous reports