UK JMLSG consults on amendments to Part 1 of AML/CFT guidance

The UK Joint Money Laundering Steering Group (JMLSG) has published a consultation on proposed amendments to Part I of its anti-money laundering and counter-terrorist financing (AML/CFT) guidance for the financial services sector. It reflects changes introduced by the draft Money Laundering and Terrorist Financing (Amendment) Regulations 2026 (as laid and not yet made) including:

• Clarification of the term "unusually" in paragraph 2.9.
• Introduction of a bank insolvency exception in paragraph 5.2.4A.
• Updates relating to pooled client accounts in paragraph 5.3.142 and Annex 5 V.
• Amendments concerning due diligence and verification of authority where a person acts on behalf of others in paragraphs 5.3.94A and 5.3.99.

The deadline for comments is 29 June.

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