HM Treasury Publishes the 2023-24 AML/CTF Supervision Report
13/03/2025
The HM Treasury Anti Money Laundering and Counter-Terrorist Financing Supervision Report 2023-24 is now available. The report provides a comprehensive overview of AML/CTF supervision in the UK and key developments from the past year.
This marks HM Treasury’s 12th annual report on supervising AML/ CTF activities across the UK.
Covering the period from April 6, 2023, to April 5, 2024, the report provides key insights into the work of the 25 AML/CTF supervisors, including:
- Oversight of 90,000+ regulated businesses, ensuring compliance with AML/CTF regulations
- New performance metrics to assess the effectiveness of supervision
- Data on inspections, enforcement actions, and sector-specific training
- Updates on regulatory reforms and the evolving financial crime landscape
On its release, Emma Reynolds MP, Economic Secretary to the Treasury, said:-
- HM Treasury’s annual supervision report for the financial year 2023-24 provides an important insight into the activities of the UK’s 25 anti-money laundering/counter-terrorist financing (AML/CTF) supervisors.
- Supervision plays a crucial role in the UK AML/CTF regime, ensuring that over 90,000 businesses maintain strong and proportionate controls and supporting them to remain responsive to the latest risks in their sector.
- This year, the Treasury has significantly expanded this report's information.
- It includes new metrics on the guidance and training supervisors provide for firms and data on how supervisors target activity according to risk.
- This reflects our commitment to strengthening oversight, supporting businesses in their compliance efforts, and recognising the value of adequate supervision.
- The information in this report will be important in helping to inform long-term decisions on structural reform to the UK supervisory system, as well as improvements to the Money Laundering Regulations.
- By prioritising the effectiveness of our AML/CTF regime, we are not just tackling economic crime; we are building a stronger, more prosperous UK.
SOURCE
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.