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Money Laundering & Terrorist Financing

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
Gambling Commission Money Laundering
National Crime Agency updates

And many more…

 

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UK moves to dissolve Zedxion Exchange Ltd, a crypto platform accused of funneling funds to Iran’s IRGC, after investigations revealed fake registrations and transactions enabling sanctions evasion 

March 18, 2026

An OCCRP investigation revealed that the exchange used false registration details and a fictitious director to obscure its connections to sanctioned individuals, enabling it to operate under the radar of UK authorities. This move follows U.S. sanctions targeting Zedxion and its affiliated firm for allegedly handling wallets tied to the IRGC. Blockchain analysis indicates that the platform processed substantial funds for networks linked to Iran, highlighting how crypto exchanges can be exploited to evade sanctions and finance illicit activity…

UK Govt and INTERPOL launch Operation Shadow Storm at the Global Fraud Summit, a first-of-its-kind global taskforce uniting 190+ countries, banks, and tech firms to disrupt overseas scam and fraud networks

March 17, 2026

Announced at the Global Fraud Summit in Vienna in March 2026, the taskforce will coordinate international law-enforcement action, intelligence-sharing and operational efforts to identify and dismantle scam operations based overseas, which account for a large proportion of fraud affecting the UK. The initiative reflects the government’s wider strategy to tackle fraud as a predominantly international, online and organised crime threat, strengthening collaboration with partners such as INTERPOL and foreign governments to pursue offenders beyond UK jurisdiction and protect victims…

Home Office Minister Lord Hanson warns at the Global Fraud Summit that fraud accounts for 44% of UK crime, urging bold global action and Interpol-backed partnerships to dismantle criminal networks

March 16, 2026

In the speech, Minister Lord Hanson highlights that fraud is increasingly transnational and technology-enabled, with criminals exploiting digital platforms, communications networks and open financial systems, and stresses that governments must match this innovation by using tools such as artificial intelligence and enhanced data-sharing. He calls for deeper collaboration between governments, law enforcement, industry and international partners, noting that a significant proportion of fraud originates overseas and that effective disruption will depend on coordinated global action, intelligence…

Nasdaq Verafin’s 2026 Global Financial Crime Report reveals a sharp surge in illicit activity, with $4.4 trillion lost in 2025 up $1.3 trillion since 2023, driven by fraud, drug and trafficking, and AI‑enabled criminal schemes

March 11, 2026

The report highlights that 90% of financial crime professionals have observed more AI-driven attacks, while 75% of institutions plan to deploy AI for detection, underscoring both the growing threat and the role of technology in fighting it. It calls for enhanced collaboration, intelligence sharing, and next-generation tools to disrupt sophisticated criminal networks and safeguard individuals and communities worldwide…

NCA’s UKFIU SARs in Action (Mar 26) warns UK victims are losing millions to scams, with 143 payment diversion fraud cases averaging £82,000 per victim and crypto fraud reaching 12.6M online impressions

March 11, 2026

The issue also features the Crypto Dream Scam Nightmare campaign warning of crypto investment fraud, reaching millions through social media and advising victims to verify platforms via the FCA Firm Checker and report to Report Fraud. Money laundering in social housing is addressed, emphasizing the need for robust AML compliance and vigilance by housing associations and professional enablers. Updates on international cooperation through CARIN showcase asset recovery collaboration across 60+ jurisdictions. Practical guidance is provided on updating SAR Portal contacts…

Home Office launches a refreshed Fraud Strategy for 2026–2029 aimed at disrupting fraud networks, strengthening law-enforcement capabilities and improving protection for victims

March 10, 2026

In a launch speech, Home Office minister Lord Hanson highlights the need for stronger collaboration between government, law enforcement, financial institutions and technology companies to tackle fraud, which represents a major share of crime affecting individuals and businesses in the UK. The strategy focuses on disrupting fraud before it reaches victims, including new capabilities such as an Online Crime Centre to coordinate intelligence and operational action against organised fraud networks.

UK Govt launches its new and expanded Fraud Strategy 2026–29, backed by £250M, with a new Online Crime Centre deploying AI detection and real-time intelligence sharing to crack down on organised fraud

March 9, 2026

The initiative will identify and shut down the infrastructure used by criminals such as fraudulent bank accounts, websites, phone numbers and social media channels, allowing authorities to block scam messages, freeze accounts and disrupt organised crime groups, particularly those operating internationally. The strategy reflects a shift toward technology-driven, cross-sector collaboration to proactively disrupt fraud and better protect victims, as fraud currently affects 1 in 14 adults and 1 in 4 businesses in the UK and costs…

UK DBT issues updated statutory guidance on People with Significant Control to help companies identify and report individuals or entities with significant influence, ensure BO transparency, and comply with the Companies Act 2006

March 4, 2026

It defines the criteria for determining significant control, including the right to exercise, or actually exercising, power over key company decisions, such as appointing directors, influencing financial policies, or controlling voting rights. The guidance offers practical examples to help companies accurately decide who must be recorded on the PSC register and reported to Companies House, ensuring consistency and compliance across firms. It also clarifies situations where certain roles or relationships…

CoLP Domestic Corruption Unit arrests the Chief Executive of the Police Federation of England & Wales and 2 senior officials on suspicion of fraud by abuse of position in a financial misconduct probe

March 4, 2026

Krishna, aged 46, was the first civilian to lead the PFEW, which represents over 140,000 rank-and-file police officers. He was taken into custody alongside two other senior figures linked to the federation in coordinated raids across multiple sites, including the PFEW headquarters in Leatherhead, Surrey. The investigation, described by authorities as complex and active, is examining multiple lines of inquiry. While details remain limited due to the ongoing nature of the probe, media reports highlight Krishna’s controversial tenure…

OPBAS’s latest report warns that despite progress across 41,000+ firms, PBSs still fshow gaps in AML enforcement and intelligence sharing, urging sharper action as the FCA takes on direct supervision

March 3, 2026

OPBAS reports that while professional-body supervisors (PBSs) overseeing lawyers and accountants are generally more effective than at any point since 2018, weaknesses persist in areas such as enforcement action, supervisory consistency and intelligence-sharing. The watchdog also raises concerns that the dual role of some bodies as both membership organisations and AML supervisors may limit their willingness to take robust disciplinary action, as the UK prepares to transition to a simplified supervisory model in which the FCA…

HMT publishes guidance on Using Digital Identities with the MLRs, clarifying that regulated firms can use certified digital identities on the DVS Register to meet AML customer due diligence requirements

February 26, 2026

These digital identities—covering individuals and company directors—allow firms to verify identity securely without physical documents, while still requiring firms to apply risk assessments, enhanced due diligence where needed, and maintain full compliance and record-keeping responsibilities. Essentially, certified digital identities provide legal certainty and efficiency in AML checks but do not replace the broader obligations of regulated entities…

HMT’s Payments Forward Plan 2026 sets a 3-year roadmap to modernise payments with Open Banking, a potential Digital Pound, and stronger fraud safeguards, helping firms innovate while tackling FC

February 26, 2026

It aims to streamline regulation such as consolidating the Payment Systems Regulator into the FCA and updating the Payment Services and E‑Money Regulations while enhancing competition, transparency, and consumer protections. The Plan also prioritises fraud prevention, APP scam mitigation, digital verification, and alignment with AML frameworks, giving firms clarity and capacity to innovate, plan, and manage financial crime risks across the payments ecosystem…

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