HM Treasury publishes draft MLR 2026, marking a major evolution in the AML/CTF framework through tighter CDD, expanded crypto oversight, and stronger coordination to drive outcomes-led enforcement

The reforms strengthen the AML/CTF framework by tightening risk-based CDD and EDD triggers particularly for unusually large or complex transactions and pooled accounts while expanding oversight of cryptoasset businesses, broadening trust registration requirements, updating high-risk jurisdiction definitions in line with FATF “call for action” countries, enhancing supervisory coordination and information-sharing, and bringing off-the-shelf company sales into scope to drive more effective, outcomes…