MLR

Bookkeeping is a regulated profession following the revisions to the Money Laundering Regulations (MLR) in 2007 and again in 2017.  If you are providing a bookkeeping service to clients or are seen as carrying out bookkeeping 'by way of business' you must:

    • be monitored by an HM Treasury appointed supervisory authority, such as ICB
    • put in place certain controls to identify, prevent and report money laundering offences – known as anti-money laundering or AML

For more information on the meaning of 'by way of business' please visit HMRC Manual MLR2R1300


Anti-Money Laundering Supervision (AML)

Members with an ICB Practice Licence are automatically supervised under the MLR.   As an ICB Practice Licence holder, compliance with the MLR is dependent on you:

  1. Completing a Risk Assessment for each of your clients via AML Online
  2. Recording Due Diligence documents for each of your clients on AML Online
  3. Reviewing each client's due diligence & risk assessment, and your own AML procedures, at least annually 
  4. Renewing your Practice Licence on time each year and keeping your ICB membership up to date
  5. Ensuring your ICB registered details are correct at all times

Log in to AML online to update your online anti-money laundering records 

Log in to MyICB to update your details and check your membership status

> Apply for a Practice Licence

For full AML Guidance please visit:

AML Guidance


Supervision by another body

You should only have one AML supervisor.  If you are a member of another HM Treasury appointed supervisor, such as ICAEW or ACCA, please forward a copy of supporting documents to mlr@bookkeepers.org.uk

As an ICB member in practice you are still required to hold a Practice Licence even if you have an alternative AML supervisor.

Supervision of non-members

ICB is pleased to extend its anti-money laundering supervision scheme to practising members of the following bodies:

IAgSA BIAC

please contact us if you would like further information.

mlr@bookkeepers.org.uk 

0207 856 2567

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