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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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FCA’s PS25/12 strengthens safeguarding rules for payments and e-money firms, enhancing consumer protection with stronger compliance, record-keeping, and a trust-based fund regime – effective 7 May 26
The policy introduces a two-stage approach: Supplementary Regime (Interim Rules): Effective from May 7, 2026, this stage enhances compliance with existing safeguarding requirements, improves record-keeping, and strengthens reporting and monitoring to identify shortfalls in client funds. Post-Repeal Regime (End-State Rules): Subject to legislative changes, this regime will replace the current…
FCA’s transaction governance review urges wholesale banks to implement robust frameworks, safeguard inside information, and strengthen risk management to mitigate potential FC
The FCA found that while some banks operate with strong risk frameworks—ensuring clear risk appetite, documentation, and condition tracking—others exhibited gaps in managing reputational risk and lacked adequate record-keeping of early-stage transaction deliberations, heightening opportunities for undetected or risky activity FCA. Additionally, lapses such as decisions taken without quorate committees…
Lancashire Police reinvests £500K from a landmark Bitcoin forfeiture – using the UK’s first crypto wallet freezing order to fund local crime prevention and victim compensation
Lancashire Police have secured £500,000 following the forfeiture of Bitcoin linked to a 2017 fraud case, marking the UK’s first use of a crypto wallet freezing order under the Proceeds of Crime Act. The recovered funds will compensate the victim and support local crime prevention initiatives through the Prevention and Problem-Solving Innovation Fund.
FCA opens retail access to crypto ETNs from 8 Oct 2025 with stricter safeguards, while complex crypto derivatives remain banned to prevent misuse and protect consumers
Under the new rules effective from 8 October 2025, retail investors will be able to access ETNs but only those listed on FCA-approved, UK-based Recognised Investment Exchanges. The decision reflects the FCA’s recognition that the crypto market has matured, with products becoming more mainstream and better understood. To mitigate risks, the FCA has introduced enhanced oversight measures, including strict financial promotion…
NCA’s July 2025 SARs Booklet reports freezing £1M+ in suspect deposits, blocking £250K–£400K laundered via shell firms, and seizing student mule accounts transferring £10K–£14K each
NCA reports cases where over £1M in suspicious cash deposits triggered DAML referrals, AFOs and forfeiture of significant assets. It includes multiple examples of money mule detection involving students with rapid deposit‑withdrawal patterns and asset freezing exceeding £10k–£14k. NCA describes drug‑money laundering schemes involving spikes of hundreds of thousands via business accounts…
SRA’s updated sectoral risk assessment outlines key ML/TF threats facing legal service providers and reinforces that law firms must embed a risk-based approach aligned with regulatory expectations
This assessment, grounded in the UK Government’s National Risk Assessment and the SRA’s supervisory insights, identifies the most pressing money laundering and terrorist financing risks encountered by firms it regulates—including solicitors, tax advisers, and trust or company service providers—and emphasises that firms must integrate these findings into their firm-wide risk assessments as mandated under Regulation 18 of the MLR 2017.
NECC 2024–25 Annual Report highlights major wins: 11,500 shell firms dismantled, £250 m+ in assets seized, 419 arrests via JMLIT, and stronger public–private action against fraud and illicit finance
The NECC also prioritised legislative input, research partnerships, and capability building to future‑proof the UK’s economic crime response, while strengthening asset denial measures and welcoming new leadership to drive illicit finance. It supported over 1,200 investigations, enabling 419 arrests and the restraint or seizure of more than £250 million…
FCA acts against CCG and 6 individuals over an alleged £23M unauthorised collective investment scheme in static homes, falsely promised with guaranteed returns and state backing
The scheme, promoted by Concept Capital Group and linked consultancies, promised investors fixed returns through investments in static homes purportedly let to social housing tenants. The FCA’s investigation uncovered coordinated breaches involving unauthorised financial promotions and misleading statements, leading to court-ordered asset freezes and undertakings to halt further sales or promotions. This crackdown highlights…
CoLP convicts 6 individuals for a £6M fake investment scam targeting 150+ elderly victims, using cloned insurers and forged documents, with £2 M recovered in a landmark 8‑year fraud probe
The sophisticated operation targeted over 150 victims, many vulnerable and elderly, using high-pressure sales tactics and misleading assurances of legitimacy. This successful prosecution, following a complex multi-year investigation involving international cooperation and detailed forensic financial analysis, underscores the effectiveness of coordinated law enforcement efforts in tackling large-scale financial crime…
OFSI releases its first-ever Cryptoassets Threat Assessment raising red flags on under-reporting and highlighting crypto’s growing exposure to sanctions risk
OFSI released its first-ever Cryptoassets Threat Assessment raising red flags on under-reporting and highlighting crypto’s growing exposure to sanctions risk. The report highlights the increasing use of cryptoassets to evade sanctions, particularly by high-risk actors and jurisdictions, and warns that the sector is becoming more exposed to sanctions risk. OFSI calls for greater compliance, transparency, and due diligence among crypto firms…
UK SFO and AGO’s updated May 2024 Framework boosts SFO’s independence on complex fraud, while adding tighter AGO oversight, clearer dispute rules, and stricter financial checks to rebuild trust
The updated framework agreement between the SFO and the Attorney General’s Office (AGO) introduces stronger ministerial oversight, clearer strategic controls, and enhanced governance standards designed to sharpen the accountability of the UK’s leading financial crime prosecutor. This revision reflects a significant commitment to improving transparency and ensuring robust mechanisms are in place for…
HMT and OfDIA announce new MLR guidance to embed certified digital IDs into financial services, aiming to cut fraud, reduce compliance costs, and unlock £4.3B by 2034
This initiative addresses long-standing uncertainty among financial institutions regarding the regulatory treatment of digital identity technologies, which has historically limited adoption. The forthcoming guidance, developed in coordination with the UK’s new Data (Use and Access) Act, will provide clarity on definitions, risk-based application, and how certified providers under the UK digital identity trust framework can support firms’ MLR obligations…