JMLSG produces guidance (JMLSG Guidance) to assist those in financial industry sectors represented on JMLSG by their trade member bodies, to comply with their obligations in terms of UK anti money laundering (AML) and counter terrorist financing (CTF) legislation and the regulations prescribed pursuant to legislation.
The Guidance is issued by a private sector body and therefore cannot be legally binding, although it is of significance that it has HM Treasury approval. It is not over-prescriptive but provides a base from which management can develop tailored policies and procedures that are appropriate for their business. It remains the responsibility of a firm to make its own judgment on individual cases, on a risk based approach.
JMLSG is not a lobbying organisation, nor does it provide advice. Firms are advised to seek their own counsel.
JMLSG is unable to assist members of the public with general queries including those relating to financial services and economic crime.