OPBAS Calls For Stronger Enforcement By AML Supervisors

The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has warned that anti-money laundering supervision across professional services still lacks sufficiently strong enforcement to deter poor compliance.

In its latest report, OPBAS found that Professional Body Supervisors (PBSs) overseeing legal and accountancy firms are more effective than at any point since the body was established in 2018. However, the regulator concluded that several supervisors continue to fall short in applying robust enforcement action against firms that breach anti-money laundering requirements.

OPBAS noted that most PBSs demonstrate generally good levels of compliance with their supervisory responsibilities under the Money Laundering Regulations. Despite this progress, the report highlights persistent weaknesses in supervisory practices, particularly where enforcement approaches are less developed than other aspects of oversight.

The regulator also raised concerns about potential conflicts of interest arising from the dual role of some PBSs. As both membership organisations and supervisory authorities, certain bodies may face challenges in taking firm disciplinary action against the firms they represent.

Mark Francis, Director of Specialists at the Financial Conduct Authority (FCA), said tackling financial crime remains a central priority for the regulator. He noted that OPBAS has driven significant improvements in how money laundering risks are addressed across the legal and accountancy sectors but emphasised that further progress is required.

OPBAS operates within the FCA and oversees 25 Professional Body Supervisors responsible for monitoring anti-money laundering (AML) compliance among legal and accountancy firms. The body was created in 2018 to strengthen oversight of professional services and improve consistency in AML supervision.

The report also highlights that OPBAS has expanded the range of tools it uses to improve supervisory standards. In 2025, the organisation took its first enforcement action against a Professional Body Supervisor that failed to meet its obligations under the Money Laundering Regulations.

Looking ahead, the Government has confirmed that the FCA will assume responsibility for AML and counter terrorist financing (CTF) supervision across the legal and accountancy sectors. The move is intended to simplify the supervisory framework, create more consistent oversight and strengthen the ability of authorities to identify and disrupt financial crime.

Read the press release here.