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United Kingdom
This section covers AML/CTF initiatives by FCA, HMT, HMRC, JMLSG and other related UK organisations.
FCA Financial Crime: Guide for firms
HM Treasury Money Laundering Prevention
HMRC Money Laundering Regulations
JMLSG industry Guidance
FATCA UK Regulations 2013
FATCA UK Regulations Guidance 2013
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NCA’s 2025–26 SARs Annual Report reveals a 3% rise in SARs to 896,414 and a 15% increase in funds denied through the DAML regime to £440.8m, despite a 23% fall in DAML requests
Despite the increase in funds blocked, DAML requests fell 23% to 44,553, following the July 2025 increase in the reporting threshold from £1,000 to £3,000. Requests for a Defence Against Terrorist Financing (DATF) rose 28% to 509, highlighting continued demand for financial intelligence to tackle suspected TF. The findings underscore the critical role of SARs in disrupting illicit finance and the importance of high-quality reporting in supporting…
NCA’s 2025–26 SARs Annexes show banks accounted for 760,376 SARs (84.8% of submissions), with financial services contributing 99,956; DAML requests fell 22.1%, while TF SARs rose to 1,187
Virtual-asset reporting declined: cryptocurrency exchanges submitted 13,740 SARs, down from 14,153 in 2024–25. DAML requests fell by 22.1%, from 57,214 to 44,553. Banks remained the largest source, submitting 19,081 requests, followed by e-money and e-payment providers with 8,153. Terrorist-financing SARs increased: submissions rose from 1,097 to 1,187, with banks accounting for 529 reports. The annexes provide a sector-level view of reporting trends across banking, payments, accountancy, legal services, gambling, property and virtual assets, helping identify where reporting volumes…
UK PSR consults on a simplified regulatory framework for payment system access, ahead of its functions transferring to the FCA, with responses due by 10 Dec 2026
The proposals would revise General Direction 2, revoke General Direction 3 and introduce a single access test for direct and indirect access. The framework would retain the existing principle that access requirements must be proportionate, objective and non-discriminatory, while improving consistency and transparency. The PSR is seeking feedback by 10 December 2026…
Crowe, Cifas and the University of Portsmouth’s Annual Fraud Indicator 2026 report estimates UK fraud losses at £220bn a year, with procurement fraud accounting for the largest share
Crowe’s 2026 report estimates annual fraud losses of £220bn across the UK economy, including £168bn in the private sector and £49bn in the public sector. Private-sector procurement fraud accounts for an estimated £138bn, highlighting significant vulnerabilities in purchasing and supplier controls.
The report also incorporates new estimates for counterfeit goods, fraudulent food and drink, and online sales refund fraud. It highlights the need for stronger fraud prevention, improved loss measurement and cross-sector intelligence sharing, while cautioning that methodological changes limit…
FCA and NCA arrest three individuals in a joint operation targeting a suspected organised insider dealing and money laundering network
More than 100 officers and staff searched five properties across London and Manchester, seizing over 30 electronic devices as part of the investigation. The operation underscores the authorities’ focus on the intersection of market abuse, organised crime and illicit financial flows.
FCA secures guilty pleas from two financial services professionals who defrauded four clients of £2 million, including one who admitted laundering the proceeds
Kerry Nelson and Jacqueline Stephens admitted using false documents to deceive clients between 2019 and 2023 while working at financial advice firms. Nelson also admitted withdrawing company funds to finance personal spending, exposing serious abuses of client trust and weaknesses in financial oversight.
NCA coordinates international fraud crackdown, with nearly 30 arrests, 3.7 million online accounts removed and $11m in potentially recoverable funds identified
The operation brought together law enforcement agencies from 15 organisations and technology companies, including Meta, Microsoft and Google, to disrupt investment and impersonation scams originating in West Africa. Raids in Ghana and Nigeria also uncovered suspected scam centres and identified 117 potential trafficking victims, highlighting the links between online fraud and forced criminality…
CoLP’s Report Fraud Service reports a 417% surge in losses from email and social media account hacking and urges users to switch to passkeys
The Report Fraud service highlights losses from email and social media account hacking rose to £6.3M in 2025/26, up from £1.2M in 2024/25, while reports increased by 34%. Criminals exploit compromised accounts to impersonate victims and defraud their contacts. It urges users to adopt passkeys, enable two-step verification and strengthen account security to reduce account takeovers and related fraud…
NCA secures prison sentences for members of a money laundering network that smuggled almost £30m in criminal cash from the UK to Dubai using airline couriers and a corrupt airport employee
Investigators uncovered an operation that transported undeclared cash in suitcases on flights departing Manchester, Birmingham and Brussels between 2017 and 2019. The case exposes how organised crime groups exploit international aviation routes and complicit insiders to move illicit proceeds beyond the reach of UK authorities.
FCA publishes consultation on new transaction reporting regime to help firms prepare ahead of 2028 implementation – feedback due by 6 Nov 2026
Bank of England warns Frontier AI could amplify cyber threats, creating new risks for banks, payment systems and other critical financial infrastructure
It calls for rigorous testing of AI models before and after deployment to identify vulnerabilities and ensure effective safeguards and points of intervention.
The Bank argues that stronger AI governance and common standards will be critical as financial firms increasingly deploy AI across cyber defence, trading and payments. Policymakers should first understand the risks, test models and establish where meaningful intervention is possible…
FCA opens its crypto authorisation gateway, allowing cryptoasset firms to apply for full FCA authorisation ahead of the new UK regulatory regime taking effect in Oct 2027
Firms intending to continue operating in the UK must apply for authorisation by 28 February 2027 and meet standards covering governance, consumer protection, safeguarding and financial resilience. The move shifts crypto oversight beyond the existing AML registration framework towards full FCA regulation, bringing cryptoasset firms under broader requirements for risk management, governance and customer protection. Firms will need to…