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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 Parliament launches inquiry into the Govt’s Financial Inclusion Strategy, urging action beyond ‘box‑ticking’ to ensure vulnerable groups gain real access to financial services while curbing FC risks

November 28, 2025

The Committee will examine whether existing measures, such as banking hubs, effectively reach those excluded from mainstream finance and will call for a strategic, outcome-driven approach supported by the private sector. From a financial‑crime perspective, meaningful inclusion is crucial: without access to regulated banking, excluded individuals may rely on informal or opaque channels, heightening risks…

FCA outlines a sharper approach to regulating cryptoassets and stablecoins, emphasising that innovation must be backed by strong consumer protection, FC controls, and robust governance

November 26, 2025

The FCA states that it intends to bring cryptoasset businesses — including stablecoin issuers — within a “proportionate, sustainable” regulatory regime that applies core standards (governance, disclosure, consumer safeguards) similar to those for traditional financial firms. It also launches a stablecoin-specific cohort within its Regulatory Sandbox to allow firms to test innovations under supervision, signalling that firms should begin preparing now for authorisation under the upcoming UK crypto regime…

FCA collaborates with crypto firms in its Regulatory Sandbox to test standardised disclosures, enhancing transparency, protecting investors, and shaping the UK’s crypto rules for 2026

November 26, 2025

Eunice a RegTech platform has been accepted into the FCA’s Regulatory Sandbox to pilot an “industry‑led disclosure solution” for crypto markets. Eunice will work with major crypto firms (including Coinbase, Kraken and Crypto.com) to test standardised disclosure templates covering tokenised assets, cryptoassets and on‑chain infrastructure — helping ensure investors receive clear, consistent information…

FCA’s Consultation Paper proposes reforms to simplify UK transaction reporting, cut compliance costs by over £100M, and enhance data quality for detecting FC and market abuse – feedback by 20 Feb 26

November 21, 2025

Under consultation paper CP25/32, the FCA seeks to streamline the UK transaction-reporting regime by narrowing its scope to instruments traded on UK venues, removing mandatory reporting for FX derivatives, and cutting required data fields (reducing transaction-reporting fields from 65 to 52). It also proposes shortening the window for resubmitting corrected reports from five to three years (with a longer period possible for serious failures), and aligns future reforms with a broader plan to integrate reporting across multiple regimes including MiFIR…

NCA exposes a billion-dollar Russian ML network that allegedly bought a Lithuanian bank to funnel war-funding, revealing a sophisticated web of shell firms, corrupt intermediaries and global illicit finance

November 21, 2025

Through Operation Destabilise, the NCA uncovers a sprawling criminal network operating across at least 28 UK cities that funnels cash from drugs, firearms, and people-smuggling into cryptocurrency, and which uses a bank acquisition in Kyrgyzstan to channel funds to entities supporting Russia’s military-industrial complex. To date, authorities have arrested 128 suspects and seized more than £25 million in cash ….

Companies House launches mandatory ID verification for new directors and PSCs, rolling out over 12 months to crack down on bogus identities and strengthen the fight against fraud, ML, and economic crime

November 18, 2025

From this date, any new director or PSC must verify their identity before taking up their role, a move designed to ensure the UK’s company registry is accurate and to make it harder for criminals to use fake or stolen identities. Verified individuals receive a unique personal code; directors and PSCs must submit this code when making filings…

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

November 17, 2025

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

November 12, 2025

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

November 11, 2025

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

November 7, 2025

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

November 7, 2025

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

November 7, 2025

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…

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