JMLSG Guidance Prevention of Money Laundering / Terrorism Financing
- Issuing authority
- Joint Money Laundering Steering Group (JMLSG), approved by HM Treasury
- Effective date
- February 2026 revision (Parts I and II). Some updates to Chapters 3 and 6 are awaiting HM Treasury approval.
- Scope
- United Kingdom
Key requirements
Industry-written guidance approved by HM Treasury. Acts as the practical handbook for UK financial services firms applying the MLR. Part I covers general AML principles; Part II covers sector-specific guidance (retail banking, wealth management, asset finance, life assurance and more). Firms can rely on JMLSG to demonstrate compliance with the MLR.
Quick Summary
The JMLSG Guidance helps UK financial services firms understand how to meet their anti-money laundering obligations under the Money Laundering Regulations (MLRs). It explains what firms are expected to do in practice and is widely used by firms when building and reviewing their AML compliance programmes.
What is it?
JMLSG Guidance is a practical handbook for AML compliance in the UK. While the Money Laundering Regulations set out the legal requirements, the JMLSG Guidance explains how firms can apply those rules in their day-to-day business. It includes both general AML guidance and more detailed guidance for different parts of the financial services industry.
Who does it apply to?
- Banks
- Payment institutions
- Electronic money institutions
- Wealth managers
- Investment firms
- Life insurance companies
- Asset finance providers
- Compliance officers and MLROs
- Other UK financial services firms subject to the Money Laundering Regulations
Why does it matter?
The guidance gives firms a practical way to understand and apply the UK's AML rules. Although it is not legislation, it is approved by HM Treasury, and the UK Financial Conduct Authority (FCA) recognises it as industry guidance. Following it can help firms demonstrate that they have taken appropriate steps to comply with the Money Laundering Regulations.
What should firms do?
- Review the latest JMLSG Guidance alongside the UK Money Laundering Regulations.
- Make sure AML policies and procedures reflect the latest guidance.
- Use the sector-specific guidance that applies to their business.
- Review customer due diligence, risk assessments, and transaction monitoring procedures regularly.
- Train staff on updates to the guidance and how they affect day-to-day compliance.
- Monitor future revisions and update internal controls where necessary.
AboutAML Breakdown
The JMLSG Guidance is one of the most widely used AML resources in the UK because it explains what the law looks like in practice. For example, the Money Laundering Regulations tell firms what they must do, such as carrying out customer due diligence. The JMLSG Guidance helps explain how firms can meet those requirements in different situations. Many firms use the guidance when designing their AML policies, training staff, and preparing for regulatory inspections. While following the guidance does not guarantee compliance, it is widely recognised as good industry practice.