CoLP’s Annual Fraud Report reveals a 395% surge in AI-linked fraud, rising from 193 to 956 cases in 2025/26, with losses reaching £9.6M as criminals deploy deepfakes, cloned voices and crypto in investment scams

by | Sep 4, 2026

The assessment highlights a sharp rise in AI-enabled fraud, with reports citing AI increasing from 193 to 956 and losses rising from £1.2m to £9.6m. Investment fraud was the leading AI-enabled fraud type, with criminals using AI-generated videos, cloned voices and...

JMLSG updates Part I AML Guidance, clarifying CDD requirements for bank insolvencies, customers acting on behalf of others and pooled client a/cs, including “unusually” large or complex transactions

by | Sep 3, 2026

The revisions affect paragraphs 2.9, 5.2.4A, 5.3.94A, 5.3.99 and 5.3.142 and Annex 5-V, and have been submitted to HM Treasury for Ministerial approval. The amendments cover the interpretation of “unusually” complex or large transactions, an exception relating to bank...

CoLP secures a conviction after seizing the UK’s first SMS blaster, used to send smishing texts, with 7,859 compromised payment card details and counterfeit IDs uncovered in a case linked to ML

by | Sep 1, 2026

The device acted as a rogue mobile antenna, allowing scam messages to be sent directly to nearby phones while bypassing normal network security. The messages impersonated trusted organisations, including Royal Mail, to trick victims into providing payment and personal...