ECSH41000 | Businesses already supervised for anti-money laundering purposes

Some businesses may already be supervised for anti-money laundering (AML) purposes by another supervisory authority. In this situation, HMRC and the other supervisory authority will decide if a single supervisor can oversee their AML arrangements. For more information see ECSH42000.

The activities of some businesses mean they may fall under the remit of several supervisors and therefore need to be registered with or authorised by more than one supervisor. Any business must ensure that it is supervised for AML activity (so the onus is on them to ensure they’re registered/supervised). Some professional bodies do not offer AML supervision, or such supervision may be dependent on the level of membership sought. A business should ensure that it knows who its AML supervisor is and that it meets that supervisor's requirements.

If a business is authorised by the Financial Conduct Authority (FCA) for another purpose, they should contact the FCA to ensure that they are being supervised for AML purposes, as the FCA may only be supervising them for the other authorised activity.

See ECSH30500 for details of other supervisory authorities and information on designated professional bodies who also act as a supervisory authority.

See ECSH40500 for further information on who needs to be registered.