The Joint Money Laundering Steering Group Limited

What The Joint Money Laundering Steering Group Limited does

The Joint Money Laundering Steering Group Limited (JMLSG) is a UK private sector body, structured as a company limited by guarantee (company number 04729266), that produces interpretive compliance guidance for the UK financial services industry on anti-money laundering (AML) and counter-terrorist financing (CTF) obligations. Its core product is a three-part guidance framework: Part I sets out general principles including risk-based approaches, customer due diligence, and monitoring; Part II provides sector-specific guidance across 22 sectors (banking, insurance, investment management, cryptoassets, trade finance, asset finance, credit unions, electronic money, and others); and Part III addresses equivalent third-country markets and is currently under review. The guidance carries HM Treasury ministerial approval, which gives it statutory recognition under the Proceeds of Crime Act 2002, the Terrorism Act, and the Money Laundering Regulations 2017—UK courts must take account of the guidance in relevant proceedings, and the FCA considers adherence when assessing disciplinary action under SYSC and pursuing criminal prosecutions under the ML Regulations.

JMLSG is governed and owned by 14 leading UK Trade Associations: AFME, ABCUL, ABI, AFB, BSA, EMA, EVIA, FLA, IA, LMA, PIMFA, TISA, UK Finance, and UK Private Capital. The Chair role, held by Chris Murphy since October 2024 (independent, succeeding trade-association chairs Adrian Hood of IA and Louise Stanway of PIMFA), and the Company Secretary and Draftsman role, held by Carol Smit since August 2018, anchor a small permanent secretariat. The organization is a non-commercial entity: the guidance is distributed free of charge via www.jmlsg.org.uk as downloadable PDFs, no products or services are sold, and no revenue or ARR is disclosed.

Revisions are issued on a multi-year cycle in response to UK legislative and regulatory change. Recent activity includes a June 2020 expansion to cover cryptoasset exchange providers and custodian wallet providers (Sector 22), a September 2021 launch of Sector 15 on trade finance, March 2023 revisions across seven Part II sectors, August 2023 guidance on the cryptoasset Travel Rule, and Part I amendments in 2025-2026 to incorporate The Money Laundering and Terrorist Financing (Amendment) Regulations 2026 (SI 2026/621). JMLSG is not a lobbying organization and does not provide compliance advice to individual firms.

Name

The Joint Money Laundering Steering Group Limited

Legal name

The Joint Money Laundering Steering Group Limited

Website

https://jmlsg.org.uk

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

JMLSG is a UK non-profit body owned by 14 financial trade associations that produces HM Treasury-approved anti-money laundering and counter-terrorist financing guidance for FCA-regulated firms across 22 sectors, distributed free of charge via its website.

Ownership category

akta.pro rank

Product category

Anti-Money Laundering Compliance Guidance

SIC

Services-Management Services (8741)

akta.pro primary industry

Financial Crime, AML/CFT & Sanctions Compliance (BPAHAFAE)

akta.pro secondary industry

AML/CTF Transaction Monitoring & Case Management (FSAGAFAC)

Keywords

• Anti-money laundering guidance
• AML/CTF compliance
• Financial services compliance
• Regulatory compliance guidance
• Financial crime prevention

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Distribution channels1 record

Marketing channels3 records

Core offering

JMLSG is a private sector body that produces authoritative anti-money laundering and counter-terrorist financing (AML/CTF) guidance for UK financial services firms. It is made up of 14 UK Trade Associations and its consolidated guidance carries HM Treasury ministerial approval, providing a risk-based framework that regulated firms apply to meet their AML/CTF obligations. The guidance is delivered as a series of documents: a core JMLSG Guidance (Parts I, II and III) plus sector-specific supplements.

Product overview

JMLSG produces a three-part guidance framework (Parts I, II, and III) to assist UK financial services firms in complying with anti-money laundering (AML) and counter-terrorist financing (CTF) legislation. Part I provides general guidance on risk-based approaches, customer due diligence, and compliance obligations. Part II offers sector-specific guidance covering 22 industry sectors including banking, insurance, investment management, cryptoassets, trade finance, motor finance, and syndicated lending. Part III addresses equivalent markets. The guidance has HM Treasury ministerial approval and is recognized under POCA and the Terrorism Act as relevant industry guidance that courts and the FCA must consider.

Differentiator

Problem solved

Functional benefit

Products and services

• JMLSG Guidance Part I

Quantifiable outcome

• Courts must take account of approved industry guidance when considering whether a person has committed offences of failing to report under POCA and Terrorism Act
• +2 more outcomes

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

19 partnerships are on record, tiered core and minor.

• Association for Financial Markets in Europe (AFME)coreOthersAFME is a member body of JMLSG, representing firms involved in financial markets in Europe. AFME participates in JMLSG's guidance development process.
• The Association of British Credit Unions Limited (ABCUL)coreOthersABCUL represents British credit unions and is a member body of JMLSG participating in AML/CTF guidance development.
• Association of British Insurers (ABI)coreOthersABI is a member body of JMLSG, representing the UK's insurance industry and participating in guidance development.
• Association of Foreign Banks (AFB)coreOthersAFB represents foreign banks operating in the UK and is a member body of JMLSG.
• Building Societies Association (BSA)coreOthersBSA represents UK building societies and is a member body of JMLSG.
• Electronic Money Association (EMA)coreOthersEMA represents electronic money institutions and is a member body of JMLSG.
• European Venues and Intermediaries Association (EVIA)coreOthersEVIA represents European venues and intermediaries and is a member body of JMLSG.
• Finance & Leasing Association (FLA)coreOthersFLA represents the asset finance, motor finance, and hire purchase industries and is a member body of JMLSG.
• The Investment Association (IA)coreOthersIA represents UK investment managers and is a member body of JMLSG. IA's representative Adrian Hood served as JMLSG Chair from July 2022 to October 2024.
• Loan Market Association (LMA)coreOthersLMA represents the loan market and syndicated lending industry and is a member body of JMLSG.
• The Personal Investment Management and Financial Advice Association (PIMFA)coreOthersPIMFA represents personal investment managers and financial advisers and is a member body of JMLSG. PIMFA's representative Louise Stanway served as JMLSG Chair from July 2016 to July 2022.
• The Investing and Savings Alliance (TISA)coreOthersTISA represents the investing and savings industry and is a member body of JMLSG.
• UK Finance (UKF)coreOthersUK Finance represents UK banking and financial services firms and is a member body of JMLSG.
• UK Private CapitalcoreOthersUK Private Capital represents private capital industry participants and is a member body of JMLSG.
• HM TreasurycoreOthersHM Treasury provides ministerial approval of JMLSG Guidance, which is required for the guidance to have special legal significance under POCA and the Terrorism Act. Courts must take account of Treasury-approved industry guidance when considering AML/CTF offences.
• Financial Conduct Authority (FCA)coreOthersThe FCA and JMLSG Guidance are complementary documents. The FCA's Financial Crime Guide (FCG) sets out supervisory expectations, while JMLSG Guidance sets out regulatory expectations. The FCA has regard to whether firms have followed JMLSG Guidance when considering disciplinary action.
• National Crime Agency (NCA)minorOthersJMLSG provides guidance on reporting suspicions to the NCA, specifically the UK Financial Intelligence Unit located with the NCA. Financial services firms have a legal obligation to report suspected money laundering or terrorist financing to the NCA.
• Financial Action Task Force (FATF)minorOthersFATF is referenced in JMLSG's useful resources as the international body setting standards for anti-money laundering and counter-terrorist financing.
• Home OfficeminorOthersThe Home Office is listed in JMLSG's useful resources as a relevant UK government department for AML/CTF matters.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Others

• UK Finance: UK Finance is the leading trade association for the UK banking and financial services sector and is itself a member body of JMLSG. It complements JMLSG by issuing industry position papers, AML-related market guidance, and lobbying materials; it operates in adjacent but overlapping compliance-advisory territory.
• US Financial Crimes Enforcement Network (FinCEN): FinCEN is the US Treasury bureau that administers the Bank Secrecy Act and issues AML guidance, advisories, and regulations for US financial institutions. It is comparable to JMLSG as an authoritative issuer of AML compliance guidance backed by Treasury; the divergence is geographic (US federal regulator vs. UK private-sector guidance body) and statutory status.
• Association of Certified Anti-Money Laundering Specialists (ACAMS): ACAMS is a global membership body that provides AML/CTF certifications, training, and thought-leadership content for financial crime professionals. It is comparable to JMLSG as a knowledge-body for AML practitioners, but differs in being a paid-membership commercial organisation focused on individual professional accreditation rather than statutory industry guidance.
• Transparency International UK: Transparency International UK publishes research and policy recommendations on anti-corruption, AML and illicit finance that inform industry and regulatory practice. While not a guidance-issuing body for compliance officers, it occupies adjacent territory as a thought-leader on financial crime and AML standards, and is sometimes referenced alongside JMLSG outputs.
• ICA (International Compliance Association): ICA is a global professional membership body offering AML, financial crime and compliance certifications and training to practitioners. Comparable to JMLSG's AML knowledge-distribution function but focused on individual professional development rather than statutory industry guidance documents.
• Financial Action Task Force (FATF): FATF is the international standard-setting body that issues the FATF Recommendations on AML/CFT, against which jurisdictions are evaluated. JMLSG explicitly references FATF as a useful resource and translates FATF's standards into UK-specific compliance guidance; functionally similar as an authoritative standards-issuing body, though FATF operates at inter-governmental level.
• European Banking Authority (EBA): The EBA issues EU-wide AML/CFT Guidelines under the AMLD framework that national regulators and firms must follow. JMLSG's role in the UK broadly parallels how EBA Guidelines function across EU member states — turning high-level regulation into operational supervisory expectations — making EBA a structural peer though it is a regulator rather than an industry body.
• Wolfsberg Group: The Wolfsberg Group is an association of global banks that publishes anti-money laundering and financial crime guidance, anti-bribery and ABC principles. It is highly comparable to JMLSG as it produces industry-developed guidance documents that financial institutions voluntarily adopt; however, it operates at the global/principles level rather than the UK-specific statutory level.

Regional players

• Wolfsberg Group / FATF style industry guidance consortia (represented by AUSTRAC): AUSTRAC is Australia's AML/CTF regulator and guidance-issuing body, structurally comparable to the relationship between HM Treasury, FCA and JMLSG. It plays an analogous role in translating statutory AML obligations into operational guidance for Australian reporting entities, providing a geographic peer reference.
• Monetary Authority of Singapore (MAS): MAS issues AML/CFT Notices and Guidance to financial institutions in Singapore under the MAS Act and AML/CFT framework. Comparable to JMLSG in its function of producing detailed guidance that regulated firms must have regard to, though operating as the regulator rather than a non-statutory industry body.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/the-joint-money-laundering-steering-group-limited

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about The Joint Money Laundering Steering Group Limited