The Joint Money Laundering Steering Group (JMLSG) is the primary source of practical AML/CFT guidance for the UK financial services industry. Its members are the major trade associations in UK financial services, while the FCA, the Bank of England, and HM Treasury are observers.
What JMLSG publishes
JMLSG publishes guidance in two parts:
Part I covers the legal and regulatory framework (the Money Laundering Regulations 2017, the Terrorism Act 2000, and POCA 2002) and the risk-based approach to AML/CFT compliance. It covers customer due diligence, enhanced due diligence, simplified due diligence, the nominated officer (MLRO) role, training obligations, and record-keeping.
Part II contains sector-specific guidance for different types of regulated financial services business: banking, asset management, insurance, investment management, consumer credit, and others. Each sector chapter adapts the general framework to the risks and customer relationships specific to that sector.
JMLSG guidance is updated periodically to reflect regulatory changes. The February 2026 revisions strengthened the guidance on the MLRO role and aligned training expectations more closely with data-protection obligations.
JMLSG and training
The JMLSG guidance (Part I, Chapter 7) sets out the content and frequency expectations for AML training. Its central principle is that training should be appropriate to the risks to which each employee is exposed, so frequency and depth are set by risk rather than by the calendar alone. The guidance supports the FCA’s expectation of annual refresher training as a minimum, with more frequent training for higher-risk roles and event-triggered updates when regulation changes or incidents occur.
Firms citing JMLSG guidance in their training programmes and training records are demonstrating alignment with the benchmark the FCA uses when assessing compliance. See our full guide to AML training requirements.