On 25 July 2013, the FCA published its first annual report on money laundering, financial sanctions breaches and terrorist financing. The report follows on from the HM Treasury Report on the performance of AML supervisors (see our earlier report here) and the OFT’s update to its Anti-Money Laundering Enforcement Principles (outlined in the 30 May 2013 Fortnightly Financial Newsletter). The report explains the FCA’s responsibilities under the Money Laundering Regulations 2007, its approach to carrying out its anti-money laundering duties, and the trends which have emerged recently from regulated firms.