As of 15 December 2007 the Money Laundering Regulations (the Regulations) came into force across the UK. The purpose of the Regulations is to detect, deter and disrupt financial crime and terrorist financing by reducing the possibility of legitimate businesses being used for money laundering. This page contains the link to OFT's anti-money laundering registration form and guidance for completing the form.
If your business has more than 30 premises, please contact us on 020 7211 8200 first for details of how to register a large number of premises.
Please post all completed and signed registration forms with the appropriate fee to:
Anti-Money Laundering (AML) Team
Office of Fair Trading
PO BOX 65813
1. We may contact you to ask you for more information
2. We will contact you within 45 days of receipt either to confirm your registration or inform you that the OFT is minded not to register you. (If the OFT is minded to refuse your registration you will have the right to make representations and ultimately to appeal. The relevant procedures can be found in the Registration policy (pdf 304kb).)
The OFT requires all its supervised businesses to register. The following types of business are supervised by the OFT and will need to register:
Failure to register could lead to the OFT imposing a civil penalty or taking a prosecution if the supervised business continues to be carried on while the business is unregistered - see
Interim penalty policy (pdf 190kb). Prosecution could result in a sentence of up to two years in prison and/or an unlimited fine.
Please note that the Money Laundering Regulations and the registration process is separate from other roles performed by the OFT, such as consumer credit licensing.
If you are unsure of whether your business needs to register, or would like to confirm if the OFT is your supervisor, please see the AML supervision FAQs page.
If you have any queries during the application process please email firstname.lastname@example.org providing your full name, address and telephone contact details, or alternatively contact the OFT AML Helpline on 020 7211 8200 between 9am and 5pm Monday-Friday.
The OFT has published a summary of responses to its consultation on its future supervisory approach under the Money Laundering Regulations 2007 (pdf 369kb)
Download Anti-Money Laundering: Future supervisory approach consultation (pdf 315kb).
(correct at time of press on 31 March 2010 - figures have since changed)
The Office of Fair Trading (‘OFT’) is the supervisor under the Money Laundering Regulations 2007 for estate agents and certain consumer credit lenders. Businesses carrying out activities supervised by the OFT were required to be registered with the OFT for anti-money laundering purposes by 31 January 2010.
The OFT’s anti-money laundering regime is required to be self-funding, with the full reasonable costs of operating the regime met by the fees paid by businesses applying to be registered. The fee due at registration was set at £115 per business premise (capped at 20 premises). It was forecast at the start of the year that the regime would cost £1.49m to operate in the year.
The OFT’s costs in 2009/10 have been less than estimated. In addition to this, while the number of businesses registering during 2009/10 has been in line with initial forecasts, the total income received from those businesses has exceeded expectations, due to a higher than expected number of premises per business.
As a result, the OFT’s anti-money laundering regime will end the year with an expected surplus of approximately £615,000. In order to ensure that this saving is passed on to the supervised population, all firms who have registered with the OFT for anti-money laundering purposes in 2009/10 will be granted a discount – equivalent to their share of the surplus – on their first annual fee, which will be payable in autumn 2010. While further details of this discount (and the annual fee payable) will be sent to all affected businesses in due course, it is expected that the discount will be approximately £40 per business premise, capped at 20 premises.
For businesses who should have registered in 2009/10 but failed to do so, the fee payable at registration will remain at £115 per business premise (capped at 20 premises). Any businesses registering between 1 April 2010 and the 2010/11 annual fee collection period will also receive the discount on their annual fee for 2010/11.
Where a business is not required to pay an annual fee in autumn 2010, for example because they have ceased trading or no longer carry out supervised activity, a refund equivalent to the discount amount will be offered. This will be done in autumn 2010 and affected businesses should follow the instructions which will be issued with the request for the annual fee payment, and should contact the OFT to request the refund.
The OFT will contact those businesses who have withdrawn their applications for registration, in order to pay any refunds now due.
For further information please contact the AML Helpline on 020 7211 8200 or email@example.com.
Back to: Anti-money laundering