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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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Gambling Commission sets out new rules for financial penalties with six-step model focused on disgorgement and deterrence in its 2023 2023 consultation response
Key changes include a transparent six-step process covering consumer harm, illicit gain, seriousness, deterrence uplifts, discounts for early cooperation, and affordability checks to avoid insolvency risk. A new “disgorgement” step ensures recovery of illegal profit or consumer loss, while enhanced financial key-event reporting will capture changes in ownership and funding structures…
FCA shuts down 1,600+ scam websites, removes 50+ rogue apps, and flags 20,000 illegal promotions in 2024, ramping up its tech-powered fight against financial crime
The FCA took action against unauthorized ‘finfluencers’ on social media, issuing 38 alerts and interviewing 20 individuals under caution. Additionally, the FCA canceled the authorizations of over 1,500 firms, marking a 20% increase from the previous year. These measures are part of the FCA’s broader strategy to enhance consumer protection and market integrity…
UK Govt and MAS Singapore pledge joint crackdown on FC, focusing on digital finance risks, AI misuse, cross-border fraud, ESG integrity, tokenisation oversight, and global disclosure alignment
Key discussions centred on emerging threats from digital finance, including tokenisation, cross-border fraud, and the misuse of AI, while both sides pledged deeper collaboration on Project Guardian and Global Layer One to enhance oversight of tokenised markets. The dialogue also addressed the integration of AI in AML systems, stronger ESG governance to prevent greenwashing, and alignment on disclosure standards to bolster transparency. Both countries committed to continued engagement to enhance regulatory alignment, data-sharing, and AML/CFT frameworks in the face of evolving financial crime risks…
GC fines Taichi Tech Ltd £170K for regulatory breaches including the use of unfair terms and conditions, and orders a third-party audit to assess the effectiveness of its AML and safer gambling controls
Taichi Tech Limited breached the fair and open licensing condition by including a discretionary term allowing the operator to close customer accounts or forfeit winnings without clear justification. Such terms lack transparency and may lead to unfair outcomes for consumers. Some customers were able to gamble large sums within a short period of time, despite the operator holding limited customer information…
OECD’s 2024 Progress Report on Tax Co‑operation for Development hows that global tax transparency tools are empowering developing countries to uncover offshore evasion and boost revenues
The report underscores the importance of inclusive multilateralism, effective exchange of information, and targeted support in strengthening domestic resource mobilisation and combating tax evasion.
RUSI’s new report reveals a sharp rise in tech-enabled organised vehicle theft in the UK, urging urgent coordinated action
The RUSI report highlights that organised vehicle theft poses significant financial crime risks, including facilitating money laundering through the illicit trade and export of stolen vehicles. It underscores the need for enhanced cross-sector collaboration and strengthened regulatory measures to disrupt criminal networks exploiting vehicle theft for financial gain.
CPS secures conviction in £1.9M ML case linked to global romance scams, where a UK textile firm was used to conceal illicit funds through fake invoices from 2015 – 2017
The CPS and NCA investigation uncovered 77 victims who were manipulated into transferring money under false romantic pretences. Suleman was found guilty of money laundering and false accounting, with confiscation proceedings underway to recover criminal profits. Prosecutors described him as a financial enabler who kept the fraud network operational…
FCA, BoE, PRA, and PSR revise their MoU to strengthen coordination on payment systems, aligning with NPV and enhancing fraud and digital wallet oversight through clearer roles and data sharing
The updated MoU clarifies roles, embeds data sharing, and promotes joint supervision, particularly around issues like push payment fraud and digital wallets. It also prepares for the planned consolidation of the PSR into the FCA, ensuring a seamless transition while reinforcing oversight. The move signals a stronger, more unified approach to tackling fraud and safeguarding consumer trust in the evolving digital payments landscape…
UK Foreign Secretary David Lammy announces a global Summit on Countering Illicit Finance and Corruption in London, aiming to crack down on kleptocracy and drive dirty money out of the UK markets
He outlined a new doctrine of “progressive realism,” positioning Britain as a global leader in financial integrity and rule-based cooperation. Highlighting the City’s pivotal role in global tech and finance, he emphasized building new coalitions—including with the Global South—and using the UK’s financial and legal strength to tackle corruption, sanctions evasion, and geopolitical instability in a rapidly shifting world…
NCA UKFIU’s June 2025 SARs in Action highlights a modernised SARs regime handling 460K+ reports yearly, targeting crypto, green crime, and tech threats with improved tools and global collaboration
The edition introduces the SARs Digital Transformation Programme, designed to modernise the reporting system and enhance the quality of submissions through focused engagement with the private sector. It features real-life case studies demonstrating the operational value of SARs in uncovering crypto-related fraud, sanctions evasion, and trade-based money laundering, while updated guidance and typologies aim to equip reporters with the tools to identify and respond to emerging financial crime threats…
CPS orders former boss of a London FX firm to repay £64M or serve 14 more years in prison for orchestrating a high-stakes investment scam involving fraud, ML, and fraudulent trading
The scam defrauded hundreds of victims out of nearly £70 million, while funds were misused for personal luxury and company branding. The confiscation order is part of the CPS’s broader effort—having recovered £478 million in criminal proceeds over five years—to ensure fraudsters face justice and victims receive compensation…
UK’s 2nd progress report on ECCTA 2023 signals a tougher stance on corporate abuse, with stronger Companies House powers, stricter ownership transparency, and faster ID checks to fight fraud and FC
Key reforms include the phased introduction of identity verification for directors and beneficial owners by autumn 2025, enhanced oversight of limited partnerships, and improvements to the Register of Overseas Entities. Thousands of compliance warnings and penalties have been issued, while data protection measures have been bolstered. Backed by over £100 million in funding, these measures are part of a long-term rollout through 2027, aimed at tackling fraud, preventing abuse of UK company structures, and bolstering economic crime enforcement…