Anti-Money Laundering

AML supervision for your practice

If your practice provides services within the scope of the Money Laundering Regulations, you must be supervised by an approved AML supervisory authority.

The IAB provides AML supervision for eligible bookkeeping and accountancy practices. As part of your supervision, you also receive FREE access to AML Complete, our purpose-built AML compliance software, together with eight CPD modules providing a comprehensive walkthrough of the Money Laundering Regulations.

Your practice remains responsible for meeting its obligations under the Money Laundering Regulations.

Apply for AML supervision Explore AML Complete

AML supervision with IAB

£295annual practice supervision fee
£125 per BOOMannual fee for each BOOM
AML Complete softwareFREE access as part of your supervision
8 AML CPD modulesA structured walkthrough of the regulations and the key requirements for your practice

Does my practice need AML supervision?

🛡️ AML supervision for eligible practices

💻 FREE access to AML Complete

🎓 Eight AML CPD modules

AML at the IAB

Anti-Money Laundering for Bookkeepers and Accountants

Anti-Money Laundering (AML) is an essential legal responsibility for bookkeeping and accountancy practices within the scope of the Money Laundering Regulations 2017. It involves understanding the risks facing your practice, carrying out appropriate client due diligence, maintaining accurate records and reporting suspicious activity.

This page brings together key information about AML for bookkeepers and accountants. It explains who needs AML supervision, the responsibilities of a supervised practice and the requirements of the Money Laundering Regulations.

You can also find out about IAB AML supervision, FREE access to our purpose-built AML Complete software and eight AML CPD modules providing a comprehensive walkthrough of the regulations.

Use the page guide to explore each area and find the information relevant to your practice.

Page guide

Explore AML at the IAB

Find information about IAB AML supervision, AML Complete software, AML training and the resources available to supervised practices. Use the sections below to explore each area.

🛡️

AML Supervision

Apply for AML supervision through the IAB and understand what being an IAB-supervised practice involves.

Get supervised

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AML Complete Software

Discover our purpose-built AML software for recording risk assessments, client due diligence, policies and other essential AML records.

Explore AML Complete

🎓

AML Training

Build your knowledge through eight AML CPD modules providing a structured walkthrough of the Money Laundering Regulations.

Explore AML training

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Risk and Due Diligence

Understand firm-wide risk assessments, client due diligence, enhanced due diligence, politically exposed persons and sanctions screening.

Understand your responsibilities

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Guidance and Resources

Access AML guidance, regulatory updates, templates and practical information for supervised bookkeeping and accountancy practices.

Visit the member area

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Peer-to-Peer Support

Connect with other supervised members through the IAB AML Ambassador Network, created to encourage shared learning and professional discussion.

Meet the AML Ambassadors

The Basics

What is Anti-Money Laundering (AML)?

Money laundering is the process of disguising the proceeds of crime so they appear to come from a legitimate source. Anti-Money Laundering (AML) refers to the laws, controls and procedures used to prevent, detect and report money laundering and other financial crime.

Bookkeeping and accountancy practices can be targeted by criminals seeking to conceal financial activity, legitimise transactions or hide the people who benefit from criminal funds. Practices providing regulated bookkeeping, accountancy or tax services must therefore have AML supervision and meet their legal responsibilities under the Money Laundering Regulations 2017.

These responsibilities include assessing the risks of money laundering, terrorist financing and proliferation financing. Every supervised practice must take a risk-based approach, establish appropriate AML policies and procedures, carry out client due diligence and apply greater scrutiny where the risks are higher.

In short: if your practice provides regulated bookkeeping, accountancy or tax services, you must be supervised for AML and meet the requirements of the Money Laundering Regulations.

Bookkeeper reviewing anti-money laundering records

Key Anti-Money Laundering Requirements

A firm-wide AML risk assessment
Written AML policies, controls and procedures
Client due diligence (CDD) and identity verification
A nominated officer or Money Laundering Reporting Officer (MLRO)
Procedures for identifying and submitting Suspicious Activity Reports (SARs) to the National Crime Agency (NCA)
AML training and ongoing client monitoring
Supervision by an approved AML supervisory authority

Check Your AML Obligations

Does Your Practice Need AML Supervision?

If you provide regulated services by way of business, your practice may need Anti-Money Laundering (AML) supervision under the Money Laundering Regulations 2017. For example, your practice is likely to require AML supervision if you offer:

Professional bookkeeping services
Accountancy or accounts preparation
Management accounts or financial reporting
Tax advice or tax return services
Company formation services
Trust or company services

If you are unsure whether your practice requires AML supervision, check the official HMRC guidance.

Check if you need AML supervision Apply for IAB AML supervision

Your Legal Responsibility

AML Supervision Is a Legal Requirement

If your practice provides regulated bookkeeping, accountancy or tax services, it must have Anti-Money Laundering (AML) supervision and meet the requirements of the Money Laundering Regulations 2017, as amended. Trading without the required AML supervision can result in financial penalties or criminal prosecution. The IAB is an approved statutory AML supervisor for eligible professional members operating in the UK.

AML Supervision

Required for regulated practices

MLRs

The regulations your practice must follow

Risk-Based Approach

Your AML controls must reflect the risks facing your practice

IAB Supervision

Available to eligible professional members

Apply for AML supervision

AML Insight

Stay Informed as AML Develops

Anti-money laundering regulation, financial crime risks and supervisory expectations continue to evolve. The IAB keeps supervised members informed about significant developments affecting bookkeeping and accountancy practices.

Through regulatory updates, sector insight and our quarterly AML Edit newsletter, members can stay connected to the wider AML landscape. Each practice remains responsible for considering how developments apply to its own activities, clients and risk profile.

Quarterly editions of AML Edit
Updates on AML regulation and policy
Emerging financial crime risks and sector trends
Anonymised themes from across the supervised population
News from national AML forums and consultations
Publication of the IAB Annual AML Supervisory Report

Explore AML news and updates

The Quarterly AML Newsletter

AML Edit

Published four times a year, AML Edit brings together important AML developments for bookkeepers, accountants and supervised practices. Each edition covers:

Regulatory developmentsChanges affecting the UK AML framework
Emerging risksFinancial crime trends relevant to the accountancy sector
Supervisory insightAnonymised themes identified across supervised practices
Professional perspectivesContributions from members and the IAB AML Ambassador Network

Read AML Edit

AML Complete Software

AML Software Built for Bookkeepers and Accountants

AML Complete brings your practice-wide and client-level AML records together in one secure platform, giving you a clearer view of risks, reviews and outstanding actions. Purpose-built for bookkeeping and accountancy practices, it reduces administration, improves consistency and helps you maintain the evidence behind your AML decisions.

AML Complete supports your AML processes, but responsibility for meeting the Money Laundering Regulations remains with your practice. Key features include:

Firm-wide AML risk assessment
Client risk assessments and due diligence records
Risk scoring for your practice and individual clients
Policies, controls and procedures held centrally
Review dates and outstanding actions in one place
Clear records and audit trails

Included with IAB AML Supervision. IAB-supervised practices receive FREE access to AML Complete as part of their annual supervision.

Explore AML Complete Get FREE access with IAB supervision

Know Your Responsibilities

Your AML Obligations, Explained

AML responsibilities run through every part of your practice, from assessing risk and taking on clients to maintaining records and monitoring ongoing relationships. The nine areas below provide a clear overview of the key requirements for regulated bookkeeping and accountancy practices.

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Firm-Wide AML Risk Assessment

Identify and document the risks of money laundering, terrorist financing and proliferation financing across your clients, services and business activities.

Learn more

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Client Due Diligence (CDD)

Identify and verify your clients and their beneficial owners, understand the purpose of the relationship and assess the level of risk involved.

Learn more

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Enhanced Due Diligence (EDD)

Apply enhanced checks and ongoing monitoring where a client or business relationship presents a higher risk, or where the regulations specifically require it.

Learn more

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PEPs and Financial Sanctions

Identify politically exposed persons and apply the appropriate risk-based measures. Check relevant parties against the UK Sanctions List and meet applicable financial sanctions requirements.

Learn more

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AML Policies, Controls and Procedures

Establish documented AML policies, controls and procedures that are proportionate to the size, nature and risks of your practice. Keep them reviewed and up to date.

Learn more

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MLRO or Nominated Officer

Where required, appoint a nominated officer to receive internal disclosures and determine whether a Suspicious Activity Report should be submitted to the National Crime Agency.

Learn more

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Suspicious Activity Reports (SARs)

Recognise and report knowledge or suspicion of money laundering or terrorist financing to the National Crime Agency, where the legal reporting threshold is met.

Learn more

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AML Record Keeping

Retain client due diligence, risk assessment and supporting AML records for the required period, ensuring that decisions and actions are properly documented.

Learn more

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Ongoing Monitoring and AML Training

Monitor business relationships, keep client information and risk assessments current, and ensure relevant employees receive AML training appropriate to their roles.

Learn more

AML at the IAB

Supervision that supports your practice

50+ yrs

Supporting the profession

AML CPD modules included

£295

Annual practice supervision

UK-wide

Statutory AML supervisor

AML CPD Training

AML Training Across Eight Expert Modules

Develop your understanding of Anti-Money Laundering through eight structured CPD modules covering the key responsibilities of a regulated bookkeeping or accountancy practice. All eight modules are included FREE with IAB AML Supervision for supervised members and their employees.

Introduction to AML

The background to AML legislation, key terminology and the responsibilities of a supervised practice.

Systems and Controls

Systems and controls for identifying and managing money laundering risks within your practice.

Risk Assessment

Assessing money laundering risks at both practice and client level.

Client Due Diligence

Understanding client due diligence, client risk assessment and Know Your Customer requirements.

Records and Business Continuity

AML record keeping, data protection and business continuity arrangements.

Designing Effective Procedures

Designing, reviewing and improving the AML procedures used within your practice.

Reporting and Training

Suspicious activity reporting, the role of the National Crime Agency and AML training requirements.

Monitoring and Responsibilities

Ongoing AML monitoring, external information sources and the responsibilities involved in managing AML within a practice.

Browse AML training

Why the IAB

Why Practices Choose IAB AML Supervision

IAB AML supervision combines independent regulatory oversight with valuable resources for eligible professional members and their practices.

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Approved AML Supervisor

The IAB is an approved statutory AML supervisor for eligible professional members operating in the UK.

💻

AML Complete Included

Receive FREE access to our purpose-built AML software as part of your IAB AML supervision.

🎓

Eight AML CPD Modules

All eight AML training modules are included FREE for supervised members and their employees.

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Member Connection

Connect with other supervised members through the IAB AML Ambassador Network and wider professional community.

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Clear Value

Annual practice supervision costs £295, plus £125 for each beneficial owner, officer or manager (BOOM).

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More Than 50 Years of Heritage

Join an established UK professional body with more than five decades of experience and a growing international presence.

Before You Apply

IAB AML Supervision Eligibility

IAB AML supervision is available to MIAB and FIAB professional members operating UK-based bookkeeping or accountancy practices. Before applying, you will need to demonstrate that your practice meets the eligibility requirements and provide the relevant information for each beneficial owner, officer and manager.

What You'll Need

A UK-Based PracticeProviding regulated bookkeeping or accountancy services
IAB Professional MembershipCurrent membership at MIAB or FIAB grade
A Basic DBS CheckIssued within the previous six months
BOOM Information and ChecksFor all beneficial owners, officers and managers
Professional Indemnity InsuranceValid cover that meets the IAB's requirements
AML Policies, Controls and ProceduresDocumented and appropriate to your practice

How to Apply

How to Apply for IAB AML Supervision

Follow five clear steps to apply for IAB AML supervision and access the software, training and member resources included.

Prepare

Check your eligibility and gather the information you will need.

Apply

Complete and submit your online AML supervision application.

Verify

The IAB reviews your membership, DBS and BOOM information before confirming the outcome.

Access

Access AML Complete, eight AML CPD modules and undertake P&P Review.

Progress

Once approved, access the supervised members' area. Keep your knowledge current through AML training, regulatory updates and AML Edit.

Start Your Application Contact the AML Team

Clear from the Start

Simple, Transparent Pricing

No hidden fees. You know exactly what you are paying for from the outset.

Professional Membership

Required

MIAB or FIAB Professional Membership is required before applying for IAB AML supervision.

Professional recognition and designatory letters
Member benefits and CPD resources
Eligibility to apply for IAB AML supervision

View Membership Fees

AML Practice Supervision

£295

per year

The annual AML supervision fee for your bookkeeping or accountancy practice.

Independent, risk-based AML supervision
FREE access to AML Complete software
All eight AML CPD modules included
Access to the supervised members' area

Apply for AML Supervision

BOOM Fee

£125

per BOOM, per year

Payable for each beneficial owner, officer or manager connected with the supervised practice.

Clear annual fee for each BOOM
Not based on the number of employees
Added to the annual practice supervision fee

Contact the AML Team

AML supervision for your practice

AML supervision with IAB

Anti-Money Laundering for Bookkeepers and Accountants

On this page

Explore AML at the IAB

AML Supervision

AML Complete Software

AML Training

Risk and Due Diligence

Guidance and Resources

Peer-to-Peer Support

What is Anti-Money Laundering (AML)?

Key Anti-Money Laundering Requirements

Does Your Practice Need AML Supervision?

AML Supervision Is a Legal Requirement

Stay Informed as AML Develops

AML Edit

AML Software Built for Bookkeepers and Accountants

Your AML Obligations, Explained

Firm-Wide AML Risk Assessment

Client Due Diligence (CDD)

Enhanced Due Diligence (EDD)

PEPs and Financial Sanctions

AML Policies, Controls and Procedures

MLRO or Nominated Officer

Suspicious Activity Reports (SARs)

AML Record Keeping

Ongoing Monitoring and AML Training

Supervision that supports your practice

AML Training Across Eight Expert Modules

Introduction to AML

Systems and Controls

Risk Assessment

Client Due Diligence

Records and Business Continuity

Designing Effective Procedures

Reporting and Training

Monitoring and Responsibilities

Why Practices Choose IAB AML Supervision

Approved AML Supervisor

AML Complete Included

Eight AML CPD Modules

Member Connection

Clear Value

More Than 50 Years of Heritage

IAB AML Supervision Eligibility

What You'll Need

Already Supervised Elsewhere?

How to Apply for IAB AML Supervision

Prepare

Apply

Verify

Access

Progress

Simple, Transparent Pricing

Professional Membership

AML Practice Supervision

BOOM Fee

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