Skip to content

Wolfsberg Group Responds to HM Treasury AML/CTF Consultation

29 September 2023
london skyline skyscrapers river thames

Wolfsberg Group Responds to HM Treasury AML/CTF Consultation

The Wolfsberg Group has published its response to HM Treasury’s Consultation on the Reform of the Anti-Money Laundering and Counter-Terrorism Financial Supervisory Regime.

Following the Treasury’s call for evidence in June 2023, the Group has recommended that the UK adopts Model 3 – a Single Professional Services Supervisor.

The response presents the Group’s reasonings based on the following areas:

  • Information Sharing, Public-Private Partnerships and National Threat Priorities;
  • Risk-Based and Effective Outcome-Based Supervision;
  • Dissuasive Sanctions;
  • Supporting Cross-Cutting Government Policies; and
  • Sanctions.

The response also includes the Group’s views on the ‘Disadvantages of Model 4’, a Single Anti-Money Laundering Supervisor #SAS.

Firms can view the Wolfsberg response to the consultation in advance of potential forthcoming reforms to the UK’s AML-CTF supervisory regime.
Back to news and insights Read next article