Understanding the UK's Financial Intelligence Framework & Reporting Obligations

Understanding the UK’s Financial Intelligence Framework & Reporting Obligations

Course 2 of 6 in the StudyAML UK Series This course builds on the UK AML foundations by focusing on how suspicious activity is identified, escalated, and reported through the UK’s financial intelligence system. Learn how SARs support law enforcement, what UK law requires in practice, and how timely, accurate reporting protects both firms and the wider financial system. Report with confidence. Apply sound judgement. Support the UK’s financial intelligence effort.

20 - 25 minutes

Certificate Included

United Kingdom

Description

This 20–25 minute self-paced course introduces financial professionals to the UK’s sanctions and asset-freezing regime under the Sanctions and Anti-Money Laundering Act 2018 (SAMLA). Participants will explore why sanctions exist, how they support national security and foreign policy, and how they are implemented and enforced by HM Treasury and the Office of Financial Sanctions Implementation (OFSI). The course explains the different types of UK sanctions, the implications of OFSI’s strict liability standard, and how UK obligations interact with international regimes such as the UN, OFAC, and the EU. Through practical scenarios and real-world examples, learners will see how sanctions compliance works in practice — from identifying and verifying matches, to applying freezing orders, reporting to OFSI, and maintaining robust records. By the end of the course, participants will understand how effective governance, technology, and a strong culture of compliance help firms respond quickly, reduce risk, and meet regulatory expectations in a rapidly evolving sanctions landscape.

What will you learn?

Module 1 — Understanding AML, CFT & Counter-Proliferation Financing
Learn the fundamentals of money laundering, terrorist financing, and proliferation financing in the UK context. Understand how these risks arise, why they matter, and the key concepts — including beneficial ownership, proceeds of crime, sanctions, and POCA offences — that underpin financial crime prevention.
Module 2 — The UK Legal & Regulatory Framework
Explore the UK’s core AML/CFT laws, including POCA, the Terrorism Act, and the Money Laundering Regulations. Understand the roles of the FCA, HM Treasury, UKFIU, NCA, and OPBAS, and how regulatory expectations translate into real-world obligations for firms and individuals.
Module 3 — The Risk-Based Approach & Culture of Compliance
Discover how the risk-based approach guides proportionate decision-making across client, product, delivery channel, and geographic risk. Learn why governance, meaningful management information, training, and culture — supported by SMCR accountability — are critical to effective compliance.
Module 4 — Compliance in Practice
See how AML controls operate day to day, from onboarding and monitoring to escalation and SAR reporting. Examine common FCA enforcement themes and learn what “good” looks like in practice — and what happens when systems, oversight, or culture break down.