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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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UK Govt updates Guidance on Information Sharing measures in the ECCTA 2023, streamlining safe information sharing with stronger confidentiality, data protection, and compliance measures
The revised guidance clarifies that AML-regulated firms can directly or indirectly share customer information to prevent, detect, or investigate economic crime (as defined in ECCTA Schedule 11) without breaching confidentiality or incurring civil liability, while excluding privileged information or GDPR-protected data, and allows the Secretary of State to extend these sharing provisions to additional businesses…
UK plans to roll out a mandatory digital ID scheme ‘Britcard’ by July 2029 for Right to Work checks and services, aiming to combat identity fraud with reduced data sharing and stronger security
The digital ID could enhance the verification process for company directors and persons with significant control, potentially reducing the risk of fraudulent activities. However, the centralization of personal data raises concerns about data breaches and misuse, which could impact the integrity of financial crime reporting systems. A public consultation will be launched later this year to gather input and refine the initiative. The government is currently…
UK Parliament warns that illegal meat imports threaten biosecurity and calls for stronger enforcement and coordination to address the issue
The UK Parliament’s Environment, Food and Rural Affairs Committee has released a report highlighting the escalating crisis of illegal meat imports into Great Britain, posing significant biosecurity risks. The report emphasizes the urgent need for enhanced enforcement, improved inter-agency coordination, and increased public awareness to combat this growing threat effectively.
NECC issues an Amber Alert to its partner institutions to raise awareness and share key trends relating to the increasing threat of digital wallet fraud
Digital wallet fraud is a rapidly growing financial crime where criminals add stolen bank card details to mobile wallet apps without the cardholder’s knowledge. Fraudsters are able to exploit the verification process linking a card to a digital wallet. Once the stolen card details are added, these wallets can be used to bypass standard banking fraud controls to enable fraudulent purchases and cash-outs…
Covid fraudster jailed for 18 months for misusing a £50,000 Bounce Back Loan to buy a house and dissolve his company to evade repayment, with recovery proceedings underway under POCA
Within two days of receiving the funds in June 2020, Rashidzadeh transferred the entire amount into his personal account and used it to purchase a £116,000 semi-detached house in Huddersfield. He then applied to have his company struck off the Companies House register without notifying the bank that had lent him the money…
UK Govt reports a record £480M saved in its largest-ever fraud crackdown, using data analytics and AI to detect and recover funds, including £186M from COVID-19 loan scams
Additional savings were realized through actions such as preventing unlawful claims for single-person council tax discounts and removing individuals from social housing waitlists who intended to illegally sublet their homes. These efforts have redirected funds back into essential public services, supporting the government’s Plan for Change, which aims to recruit more nurses, teachers, and police officer…
UK Border Force seizes over one tonne of cocaine worth £72M hidden in generators from South America, exposing criminal gangs sophisticated smuggling amid a record year for seizures
The case involves Border Force officers acting on strong intelligence to inspect two industrial generators, collectively weighing around 40 tonnes and valued at £720,000, that had hidden inside them over one tonne of cocaine from South America. Despite the risk of having to pay substantial compensation if the generators had been damaged without uncovering the drugs, the officers’ skill and caution led to a £72 million drug seizure and a subsequent charge…
FCA’s consultation paper proposes minimum standards for crypto firms to promote good business practices, enhance consumer protection – feedback due 12 Nov 2025
The consultation seeks to gather stakeholder feedback on how crypto firms can align with robust operational and governance practices, ensuring accountability and ethical business conduct. It also explores extending regulatory expectations, such as the Consumer Duty, to digital asset services to strengthen investor protection and complaint handling…
OFSI provides guidance to UK persons and entities that are required to report frozen assets of designated individuals by 30 September 2025
The notice aims to ensure comprehensive visibility of assets subject to UK financial sanctions, strengthening oversight and enforcement of restrictive measures. It also reinforces ongoing obligations to freeze, not deal with, and promptly report designated persons’ funds or economic resources to safeguard the integrity of the sanctions regime.
Home Office’s Asset Recovery Statistics 2020–2025 show £284.5M recovered in 2025, driven by higher confiscation and forfeiture orders, record victim compensation, and £160.3M allocated for law enforcement
The report aims to provide transparency on the performance of the UK’s asset recovery regime, covering confiscation, forfeiture, civil recovery, and asset denial activities across law enforcement and prosecuting agencies. It highlights significant year-on-year increases in confiscation receipts, victim compensation, and ARIS funding allocations, alongside a decline in restraint and seizure values…
FCA Executive Director Steve Smart outlines new FC measures at 1LoD Financial Crime Summit, including an AML Synthetic Data sprint, NCA collaboration, action on rogue ‘finfluencers,’ and a RBA
In his speech at the Financial Crime Forum in London, Steve Smart emphasized a proactive, system-wide approach to combating financial crime through stronger enforcement, enhanced detection, and technological innovation. He highlighted the importance of cross-sector collaboration, public-private partnerships, and regulatory measures such as mandatory reimbursement for APP scams to strengthen the UK’s financial crime resilience…
NCA dismantles a drug smuggling ring which attenpted to import 600 kg of cocaine and cannabis using a yacht involved in a transatlantic sailing race – leading to multiple convictions and long prison terms
The NCA secured convictions against members of a crime group who conspired to smuggle 600 kilograms of cocaine and cannabis into the UK using a yacht participating in a transatlantic race. The investigation, part of Operation Venetic, uncovered encrypted communications that exposed the trafficking plots and resulted in substantial prison sentences for those involved.