The Bar Standards Board oversees the Bar in complying with the relevant rules to prevent money laundering. We have today published our annual report for the 2024/25 fiscal year, setting out the actions that we have taken to counter money laundering and terrorist financing.
All barristers must declare at Authorisation to Practise (when they renew their practising certificate annually) whether they engage in work that falls within the scope of the Money Laundering Regulations. BSB entities must do the same on authorisation and annual renewal.
This report sets out how we are meeting our responsibility as a professional body supervisor under the Money Laundering Regulations. It highlights themes emerging from our supervision work over the fiscal year 2024-25 that will assist barristers when reviewing their own controls.
Our website is regularly updated and contains information to help barristers to comply with the Regulations. This year we launched a new page for chambers, bringing together and clarifying our regulatory requirements of barristers’ practice management in chambers. We strongly encourage barristers to visit our website, read the monthly Regulatory Update and we will also post the latest information on our social media platforms.
The full report is available on our website.
