The MLRO Role & AML Obligations Explained for UK Accountants

Introduction

Accountancy practices in the United Kingdom are classified as Designated Persons under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended. This places a legal obligation on firms to establish and maintain effective Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) controls in order to mitigate the risk of being inadvertently involved in money laundering or terrorist financing activities.

Within this framework, the Money Laundering Reporting Officer (MLRO) performs a critical role in safeguarding the firm. The MLRO is responsible for overseeing internal reporting procedures, assessing suspicious activity, and making disclosures to the appropriate authorities where necessary.

In this webinar, AML specialist Elaine Jackson of Process Accountants will provide a practical overview of the MLRO’s role and the key compliance obligations required within an accountancy practice, equipping participants with the knowledge needed to strengthen internal controls and ensure effective compliance with AML legislation.

What You Will Learn

This webinar will cover the following:

• A brief overview of the UK AML supervisory framework and relevant authorities
• The role and responsibilities of the MLRO within an accountancy practice
• The key compliance obligations required under UK AML legislation
• Internal reporting procedures and staff responsibilities when escalating concerns to the MLRO
• External reporting obligations of the MLRO, including regulatory requirements and engagement with authorities
• Suspicious Activity Reports (SARs) - identification, preparation and submission
• Key considerations before and after submitting a SAR

This pre-recorded webinar will be available to view from Wednesday 10th June 2026

Alternatively, you can gain access to this webinar and others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.