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Professional services bodies will see their role supervising dirty money in their sectors reduced as the UK's markets watchdog takes on an expanded remitPhoto: Chris Ratcliffe/Bloomberg/Getty Images

The Financial Conduct Authority is set to take charge of supervising anti-money laundering across accountants and law firms in a move that professional bodies warn risks increasing the burden of regulation.

Three statutory supervisors — the FCA, the Gambling Commission and HMRC — and 22 professional bodies currently supervise the legal and accountancy sectors’ efforts to stop dirty money.