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Met Police makes 17 arrests in major joint operation targeting an alleged organised-crime network involving suspected money laundering, false accounting and links to regulated firms

September 29, 2026

More than 800 officers searched 24 properties across London, Essex, Hertfordshire, Cambridgeshire and Suffolk as part of the joint investigation. Those arrested are suspected of offences including money laundering, participation in organised crime, false accounting and cheating the public revenue. The FCA said it had already disrupted seven firms connected with the wider investigation and was examining a further 30, highlighting the increasingly…

FCA secures £851,000 in confiscation orders for victims of a £1.5M crypto investment fraud that defrauded at least 65 investors

September 28, 2026

The regulator secured confiscation orders against Raymondip Bedi and Patrick Mavanga following their convictions for their roles in a fraud that caused at least 65 investors to lose approximately £1.54 million. The court ordered Bedi to pay £603,404 and Mavanga £247,998, with recovered funds due to be returned to victims. The case demonstrates the FCA’s use of proceeds-of-crime powers alongside prosecution to recover assets generated through financial crime…

UK and Cambodia sign a new agreement to strengthen data sharing, coordinate investigations and target criminal networks operating illegal online scam centres

September 24, 2026

Through the UK–INTERPOL Global Fraud Taskforce, authorities will identify suspects, support operations to dismantle scam centres and trace and disrupt the illicit financial flows funding them. The UK will also strengthen Cambodian law-enforcement capabilities through training in cyber investigations and digital forensics, while addressing the trafficking and exploitation of people forced to conduct scams…

FCA review highlights evolving mule activity and cash-out patterns, with 238,396 suspected mule accounts closed in 2025, up 28.9% from 2023, with 47.1% closed within their first year

September 23, 2026

Money-mule activity remains a major focus for the FCA, with new figures showing just how extensively financial firms are now identifying and closing accounts suspected of being used to move criminal funds. Firms closed 238,396 suspected mule accounts in 2025, compared with 184,935 in 2023 and 233,269 in 2024. The FCA’s review found that criminals are increasingly moving money rapidly through chains of accounts before cashing out, with card…

FCA sets out next steps for major UK AML supervisory reform that would bring legal, accountancy and trust and company service providers under its supervision

September 22, 2026

The UK’s AML supervisory landscape is set for a significant shake-up, with the FCA providing further detail on plans that would substantially expand its responsibilities beyond financial services. Under the proposed reforms, the FCA would take responsibility for AML supervision of legal service providers, accountancy service providers and trust and company service providers, replacing the current system involving multiple professional-body supervisors and HMRC. The Government hopes the change will create a more consistent supervisory approach, although legislation is still required and existing arrangements remain in place for now.

Seventeen arrested as the FCA, Metropolitan Police and HMRC target an alleged organised-crime network involving suspected money laundering, false accounting and links to regulated firms

UK Govt publishes its Anti-Money Laundering and Asset Recovery Strategy 2026–2029, setting out a 3-year plan to strengthen the fight against ML and recover more criminal assets

September 21, 2026

The strategy estimates that more than £100 billion may be laundered through the UK or UK-linked structures each year and commits £500 million from the Economic Crime Levy and 500 additional officers to tackle the threat. Asset recovery is also a key priority, with nearly £350 million stripped from criminals, more than £1 billion denied and £26 million returned to victims during a recent year-long crackdown. The strategy shifts the focus towards disrupting…

FCA, HMRC and Met Police intensify crackdown on illegal crypto trading, targeting 3 unregistered P2P businesses in London and issuing cease-and-desist letters at all three

September 17, 2026

The FCA warns that unregistered P2P crypto activity can provide criminals with routes to move and launder illicit funds outside established AML controls, highlighting the continued focus of regulators and law enforcement on informal crypto channels operating outside the UK registration regime. The latest action builds on the FCA’s April crackdown, with evidence gathered during that operation now supporting criminal investigations and further enforcement..

FCA sets out its 2028 AML supervision plans for legal & accounting firms, signalling a more intelligence-led approach that will use AI, 56M daily records and cross-sector data to detect FC risks sooner

September 17, 2026

The FCA will prioritise firms presenting the greatest risks, with closer scrutiny of new applications, complex structures and weaknesses such as over-reliance on parent-company controls. It is also backing greater intelligence-sharing between firms, regulators and law enforcement, while supporting a £3,000 threshold for DAML SARs to reduce low-value reporting. The regulator says compliant firms should face less duplication and unnecessary burden…

FCA’s Cryptoasset Perimeter Guidance clarifies which firms will need FCA authorisation under the UK’s new 2027 crypto regime, with existing MLR registrations not automatically carrying over

September 16, 2026

It clarifies which cryptoasset activities fall within the UK’s new regulatory regime from 25 Oct 2027, including safeguarding, trading platforms, dealing, arranging and staking. Existing MLR registrations and permissions will not automatically convert into FCA authorisation, so firms should assess their activities and permissions now. Applications open 30 Sept 2026, with transitional applications due by 28 Feb 2027…

Home Office’s Proceeds of Crime in England and Wales 2023–24, estimates that profit-driven crime generated at least £21.9B in proceeds, with up to £8.9B potentially reinvested in further crime

September 15, 2026

The report represents the Government’s first step towards addressing longstanding evidence gaps around the scale and economic impact of ML. Drug supply accounts for the largest identified share of criminal proceeds at £14.3 billion, followed by fraud at £2.6 billion. The Home Office estimates that £6.1–£8.9 billion of the proceeds identified may be reinvested in further criminal activity, while £13–£15.8 billion may be used for consumption…

Home Office announces £500M crackdown on dirty money networks, funding 500 new officers to trace and recover criminal assets and disrupt the financial infrastructure behind organised crime

September 15, 2026

The investment will support a more proactive, intelligence-led approach, including greater use of financial intelligence, technology and public-private information sharing to disrupt the financial infrastructure behind money laundering. The government says the previous year’s activity stripped almost £350 million from criminals and denied them access to more than £1 billion…

Home Office’s Asset Recovery Statistics 2021–26 reports a 20% rise in criminal assets recovered to £345.3M and a 30% rise in assets denied through restraint and forfeiture powers to £1.1B

September 10, 2026

Forfeiture receipts increased by 28% from £122.3 million in the previous year, driven particularly by bank account forfeitures, which rose to £100.4 million. Civil recovery receipts also increased substantially, from £7.5 million to £38.5 million, while confiscation order receipts fell by 5% to £150.9 million. The statistics demonstrate the increasing contribution of civil recovery and forfeiture powers to the UK’s efforts to deprive criminals of illicit assets…

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