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NatWest Group publishes key findings and recommendations from Phase 2 of the independent review into PEP account closures

The report confirms that decision-making was consistent with relevant standards and otherwise appropriate and that there was no evidence of discrimination due to political views or affiliations, or any other protected characteristic…

UK Cross-Agencies issue red alert guidance on Gold-based financial and trade sanctions circumvention

This Red Alert is issued by the NECC, a multi-agency unit in the NCA, OFSI and FCDO working in conjunction with law enforcement and financial sector partners as part of JMLIT with the aim of promoting awareness and bringing about preventative action…

Home Office releases two new factsheets relating to the Criminal Justice Bill 2023

The measures in the Bill will reform the confiscation regime – the statutory framework used to strip criminals of their proceeds of crime – to improve the process by which confiscation orders are made and enforced facilitate the transfer of funds representing the amounts…

Financial Ombudsman Service publishes annual report and accounts

Reviews cases investigated by the regulator for the year ended 31 March 2023

UK Govt publishes new Online Fraud Charter to protect the public from online fraud

The Charter recognises that online platforms and services are increasingly being exploited by criminals for the purposes of fraud and money laundering, and sets out commitments from signatories, as applicable to their business models, to tackle fraud through a range of different…

HMT issues money laundering notice on high-risk third countries

Details risks posed by jurisdictions with unsatisfactory money laundering and terrorist financing controls

City of London Police National Lead Force launches strategy for fraud, economic and cyber crime

The plan focuses on enhancing victim support through a new fraud and cyber reporting service, adopting proactive measures and intelligence-led investigations to target offenders, and strengthening national coordination to protect individuals and businesses from…

OFSI new general license allows humanitarian assistance in Gaza

The new general license allows “relevant persons” to perform “relevant activities” if such persons believe that the activities are necessary to provide humanitarian assistance and support basic human needs, and have no reason to suspect otherwise…

NCA issues advisory to retailers on counterfeit currency

Sets out actions that need to be taken when retailers are presented with suspected counterfeit currency.

Home Office adds new fact sheets on the Criminal Justice Bill 2023

The new fact sheets cover Proceeds of crime and Serious crime.

UK ECJU publishes new guidance on strategic export controls

This guidance is for those who export or transfer in goods, software or technology (including data, information and technical assistance) which might be subject to strategic export controls. It explains what control lists are, as well as who they apply to and when…

BCS interviews the FCA about their work in AI and the challenges associated with regulating technically evolving markets

As a regulator we need to understand the benefits and dangers relating to AI, and how to promote healthy competition while also preventing harm…