Lawyers and accountants face tougher AML scrutiny from watchdog

By Joel Poultney (August 12, 2022, 1:25 p.m. BST) – The Financial Conduct Authority has issued new guidance for the 25 supervisors of the legal and accounting professional bodies it oversees with the aim of improving the consistency and quality of compliance with anti-money laundering measures.

The city watchdog said Thursday it had begun consulting on proposed changes to the guidelines that underpin the Office for Professional Body Anti-Money Laundering Supervision, or OPBAS, which sits within the regulator.

The agency, established in January 2018, oversees 25 accountancy and legal professional bodies, including the Solicitors Regulation Authority, the Bar Standards Board and the Institute of Chartered Accountants in England and…

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