TI-UK calls for stronger powers for the FCA to tackle money laundering facilitated by lawyers, accountants and other professional-services firms

The report argues that the UK’s fragmented anti-money-laundering supervisory system has created weak oversight and conflicts of interest that allow “professional enablers” to help corrupt actors move and conceal illicit wealth. It recommends expanding the FCA’s powers and resources to provide consistent, independent supervision of the sector, strengthen enforcement and information-sharing with law-enforcement agencies, and close regulatory gaps that criminals exploit to channel dirty money through legal, accounting and company-formation services.