The UK is overhauling its anti-money laundering (AML) framework, with the Financial Conduct Authority (FCA) set to replace the Solicitors Regulation Authority (SRA) and others as the single AML supervisor. The change will unify oversight across law, accounting, and trust service firms, aiming for greater consistency and stronger enforcement. Full transition is expected by 2029, with firms facing a more data-led and evidence-driven approach.
This guide covers:
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Single Regulator: The FCA will oversee all professional services under one AML regime.
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Gradual Rollout: Legislation in 2026; full implementation by 2029.
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Tighter Scrutiny: Expect data-led, rules-based supervision.
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Act Now: Refresh AML risk assessments, data, and training