Joint Money Laundering Steering Group (JMLSG)

The Joint Money Laundering Steering Group (JMLSG) is an industry body in the UK that creates and maintains guidelines to help financial institutions prevent money laundering. These guidelines set best practices for identifying, assessing, and managing risks related to illicit money flowing through banks and other financial services. While not law itself, compliance with JMLSG standards demonstrates a firm’s commitment to regulatory requirements and helps safeguard the financial system against illegal activities. The group includes representatives from banks, non-banking financial firms, and regulators, working collaboratively to improve anti-money laundering efforts.