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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
Gambling Commission Money Laundering
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JMLSG proposes revisions to its AML/CTF Guidance aimed at tightening rules around internal controls, intra-group outsourcing and due diligence for group entities and intermediaries
The proposed updates would require firms to extend their AML/CFT obligations to intra-group and group company outsourcing arrangements, strengthen the role and authority of the MLRO when material risks arise, and apply risk-based supervision and reporting mechanisms in such contexts. They also clarify how customer-due-diligence (CDD) must be applied when dealing with regulated group companies, court-appointed deputies or intermediaries acting on behalf of clients, and add guidance on handling identity/authority verification and ongoing monitoring.
FCA partners with Singapore’s MAS to accelerate safe, responsible AI innovation – launching joint initiatives to test AI solutions, share regulatory insights, and support cross-border growth
It will establish its first permanent presence in Singapore by appointing a Financial Services Attaché at the British High Commission. The collaboration will involve joint testing of AI solutions, exchange of regulatory insights, and co-hosted events to showcase best-in-class practices in AI development. This step supports economic growth by strengthening cross-border regulatory ties and attracting innovation to both the UK and Singapore financial markets…
NCA’s Operation Machinize 2 targets 2,734 high-street businesses, seizing £10.7M in criminal proceeds, £2.7M in illicit goods, and making 924 arrests disrupting ML and worker exploitation
Over October, it targeted 2,734 premises, resulting in 924 arrests, seizures of £10.7 million in suspected criminal proceeds and £2.7 million in illegal goods, and referrals to authorities for companies and workers operating illegally. The operation aimed to disrupt organised crime, protect workers from exploitation, and safeguard the integrity of legitimate businesses…
Home Office’s updated Economic Crime Survey 2024 delivers new insights on rising cyber-enabled fraud, ongoing bribery and ML risks, and persistent gaps in business awareness and controls
Commissioned by the Home Office and conducted by Ipsos UK, the survey provides the first nationally representative estimate of how businesses with employees in the UK have been affected by economic crime in the last 12 months, covering fraud, bribery, money-laundering and sanctions breaches. GOV.UK It examines the scale, impact and cost of these incidents, as well as how businesses perceive and…
NCA secures a £20-21M settlement from Chinese national, seizing dinosaur fossils, luxury apartments, and Chinese artworks under an Unexplained Wealth Order, showing POCA can target even exotic assets
The settlement included three rare dinosaur fossils (two Allosaurus skeletons and one Stegosaurus), nine luxury apartments in London, and 11 Chinese artworks. This case underscores the NCA’s growing ability to target not just traditional assets like cash and property, but also high-value and unusual assets, demonstrating the flexibility of the Proceeds of Crime Act 2002 in tackling unexplained wealth and recovering illicitly obtained assets…
NCA launches ‘Crypto Dream Scam Nightmare’, its first campaign targeting men under 45, warning against crypto investment fraud with real cases and tips to spot scams after 17,000 reports in 2024
The campaign highlights the risks of high-return crypto schemes, sharing real-life examples such as a victim who believed £28,000 had grown to £400,000, only to lose it all. In 2024, Action Fraud recorded over 17,000 reports of crypto investment fraud. The initiative provides a “Ten Tips” guide to recognise red flags, including unsolicited offers, pressure to invest more, and instructions to keep investments secret…
UK publishes a Strategy to transform its retail payments infrastructure, enhancing innovation, interoperability, security, competition, and resilience through upgrades governance reforms
It sets out both short-term improvements, such as enhancements to the Faster Payments System, and longer-term infrastructure transformation to support next-generation technologies like tokenised deposits and account-to-account payments, while proposing governance reforms—including a new Retail Payments Infrastructure Board and an industry-led delivery company—to enable agile, collaborative delivery of the payments roadmap…
HMT’s consultation on AML/CTF Supervision Reform proposes shifting oversight to the FCA to create a stronger, unified regime for tougher, more consistent action against FC
The consultation sets out four potential models for reforming the UK’s anti-money laundering and counter-terrorist financing supervisory regime — including expanded powers for the Office for Professional Body AML Supervision (OPBAS), consolidation of professional-body supervisors, a single professional-services supervisor, or a single public AML supervisor. It also seeks stakeholder input on strengthening…
SRA publishes a thematic review examining law firms’ compliance with MLR 2017 source of funds and wealth requirements, revealing major gaps in document scrutiny, audit trails, and risk-based checks
The thematic review reveals that 11% of reviewed legal matter files lacked any source-of-funds checks and 18% showed inadequate scrutiny, including 8% where evidence did not match ledger entries. It identifies challenges around guidance clarity, resource constraints, client and fee-earner reluctance, and underscores the expectation that firms must document risk-based decisions and maintain a clear audit trail of their controls…
NCA’s UKFIU SARs Booklet Nov 25 shows how high-quality SARs and DAMLs helped law enforcement seize millions, including £2M from organised crime, £1.2M from money-mule activity, and £850K from fraud
Case studies illustrate how timely and detailed DAML SARs have directly supported account freezing orders and asset forfeiture actions across multiple money-laundering and fraud investigations. They highlight recurring typologies — such as unexplained international transfers, excessive cash deposits, layering through linked companies, and suspected money-mule activity — and demonstrate how robust reporting enables law enforcement to trace, restrain and recover criminal proceeds…
Companies House’s 2024-25 Annual Report highlights major progress in gatekeeping, better data integrity, stronger enforcement, and upgraded digital services under new economic crime powers
The report details delivery of new powers under the Economic Crime and Corporate Transparency Act, expanded identity verification, and enhanced data quality measures to improve register integrity. It also notes rising enforcement referrals, significant digital transformation, and continued efficiency gains as Companies House positions itself as a proactive gatekeeper against corporate misuse…
FCA reviews consolidation in the advice and wealth-management sector, stressing sustainable growth and consumer protection while warning that rapid M&A must not dilute governance or AML controls
The review highlights risks arising from debt-fuelled acquisition strategies, integration challenges and uneven control frameworks, noting that firms must demonstrate credible plans to maintain service quality and regulatory compliance as they scale. It also emphasises that governance, systems and oversight must evolve in step with expansion to safeguard consumers and uphold regulatory obligations, including effective financial-crime risk management.