UK AAT’s 2024–25 AML Annual Report reveals major compliance gaps among accountancy firms and rising crypto and AI-fraud risks, urging stronger governance to combat evolving FC

The report provides a detailed overview of AAT’s monitoring activity during the year, including practice-assurance reviews, identified deficiencies, enforcement actions and monetary fines imposed on members who fail to meet AML obligations. It further outlines the supervisory approach, emerging threats and highlights resources and guidance made available by AAT to help members fulfil their obligations under the UK’s Money Laundering Regulations…