As regulators raise the compliance bar yet again, with new AML regs, BAT delivers the verification technology you need. The Money Laundering Regulations 2017 have received another update, with HM Treasury approving revised guidance effective 23 April 2025. These changes bring new verification challenges for IFAs and mortgage brokers at a time when regulatory scrutiny has never been more intense.
updated guidance from the Council of Licenced Conveyancers https://www.clc-uk.org/wp-content/uploads/2025/04/LSAG-AML-Guidance-23-April-2025-1.1.pdf introduces some 200 pages of updated requirements. This includes the register of overseas entities, expanded high-risk country designations and enhanced due diligence for third-parties involved in offshore trusts, companies and foundations.
The paper can be read by SMF17 staff in larger firms, leaving IFAs and mortgage brokers the task of following briefs like this article.
Simply identifying beneficial owners no longer suffices – you must now demonstrate your risk assessment process for money laundering and terrorism financing risks. This creates a documentation and verification burden that traditional methods struggle to address efficiently.
BAT has anticipated these moves, and integrated YOTI’s cutting-edge biometric verification technology directly into our platform, providing:
• One-click client verification links
• Government-grade biometric verification
• Automated AML checks against global databases
• Comprehensive audit trails that demonstrate your compliance
• Simple verification for all transaction participants
Implementation couldn’t be simpler: access the “Verify ID” function in your client portal, send the secure link, and maintain a complete verification record.
With BAT’s YOTI integration, you are not just ticking regulatory boxes but rather establishing a sophisticated verification infrastructure that protects your business while streamlining client onboarding. Don’t just comply. Use BAT and verify!