OPBAS publishes 2024/25 Supervisory Report

IPA Insolvency Practitioner newsletter, March 2026

The Office for Professional Body AML Supervision (OPBAS) released its annual supervisory report on 3 March 2026, setting out themes and findings from its assessment of Professional Body Supervisors during 2024/25. The report covers a wide range of areas relevant to IPs and their AML obligations, including risk-based approaches to supervision, customer due diligence, SAR quality, firm-wide risk assessments and enforcement. The overarching message is that whilst standards have improved across the sector, common compliance failures persist, particularly around documented policies and procedures, CDD, and client risk assessments.

The report highlights risk areas that the IPA are already fully engaged with. We will be considering the report’s findings in detail through the IPA’s AML Committee meeting and will provide further guidance to members on the implications for their practices in due course. This will be discussed in the forthcoming webinar. Members are encouraged to review their own AML frameworks in light of the themes identified in the report.