AML checks: 63% of firms are failing, Are you?

Drawing on the ICAEW's Practice Assurance Monitoring Report 2026, this infographic reports that over 2,000 firm compliance reviews in 2025 found nearly two-thirds had at least one AML lapse, with hundreds of additional breaches covering fee transparency and data protection. The ICAEW describes these as recurring themes, suggesting the profession has yet to get to grips with the fundamentals despite years of regulatory guidance.

Click on the image to see the infographic full size

The three main failure areas are AML/KYC checks (the most common, flagged at 63% of reviews, with 34 firms referred to ICAEW's Practice Assurance Committee for serious weaknesses), engagement letters and fee transparency (273 firms lacked proper written client communications), and GDPR registration (a smaller but still significant issue).

To make these compliance steps easier from day one, consider how technology can help streamline them. Practice Gateway – an integrated client onboarding & tax automation platform is designed to help firms automate tasks like AML/KYC verification, manage digital engagement letters, and maintain secure client data handling.

Embracing solutions like Practice Gateway means you can spend less time worrying about regulatory risks and more time focusing on your clients and growth. Why not explore how Practice Gateway can help your firm turn compliance from a headache into a seamless part of your workflow?