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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
National Crime Agency updates
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NCA’s 2024–25 Annual Report highlights a year of intensified FC crackdowns, delivering 450 high‑impact disruptions – 72% above target with stronger border seizures, global reach, and tech‑driven growth
Backed by £58 million in additional funding, the NCA expanded its workforce, modernised technology, and enhanced coordination under the National Control Strategy. Operating from UK hubs and through officers stationed in over 50 countries, the Agency maintained strong financial stewardship with an unqualified audit, while governance bodies ensured strategic oversight…
UK HM Treasury issues Consultation response on improving the effectiveness of Money Laundering Regulations calling for clearer, fairer, and more risk-based due diligence rules
Other changes address onboarding procedures during bank insolvencies, currency threshold adjustments, better information sharing among authorities, and regulation of off-the-shelf company sales. HMT plans to publish draft legislation later this year to formalize these reforms, reflecting a balanced approach to enhancing effectiveness without overburdening businesses…
NCA and FCA publish nine priorities for the UK’s regulated sector to combat the biggest economic crime threats, aligning with UK’s 2025 NRA
The priorities include combatting cash-based money-laundering, the exploitation of money mules, and fraud associated with overseas jurisdictions. The NCA estimates that over £100 billion is laundered through or within the UK each year. The publication meets a commitment in the UK’s second Economic Crime Plan and marks a significant step forward in aligning public and private sector efforts to tackle financial crime and terrorist financing threats…
Home Office 2024–25 report flags migrant surges and boosts law enforcement powers to tackle border and financial crime risks
The Home Office Annual Report 2024–25 highlights significant operational challenges related to a 24% rise in small boat migrant crossings and the accommodation of over 100,000 asylum seekers, underscoring risks linked to immigration and border enforcement. It also outlines strategic initiatives, including enhanced law enforcement powers via the Crime and Policing Bill and a new policing performance framework, which are critical for addressing financial crime risks tied to migration, human trafficking, and related illicit activities.
UK’s 2025 NRA flags how criminals are increasingly exploiting sectors once seen as low-risk – such as universities, football, letting agents, TCSPs, and professional services
The report warns of rising risks driven by new technologies, geopolitical instability, and sophisticated criminal networks, while cash-based money laundering, misuse of professional services, and complex ownership structures remain persistent threats. The assessment underscores the need for a coordinated, risk-based approach by government, law enforcement, supervisors…
Met Police and FCA seize 7 illegal crypto ATMs and arrest 2 suspects for operating an unregistered crypto-asset exchange and laundering illicit funds
This enforcement action comes amid the FCA’s continued crackdown on unlawful crypto activities, highlighting that no crypto ATMs are legally registered in the UK. Therese Chambers of the FCA underscored that unregulated machines “support crime,” while Detective Inspector Geoff Donoghue reaffirmed the Met’s commitment to tackling crypto-enabled money laundering…
FCA and ICO highlight how Open Finance and Smart Data can enhance secure data sharing in financial services through strong consent, privacy, and AI safeguards to combat fraud and drive innovation
Key technologies under review include APIs, AI analytics, distributed ledger technology, and digital IDs—all aimed at boosting innovation while safeguarding against financial crime risks. With initiatives like the Smart Data Accelerator and ICO’s Innovation Hub, both regulators aim to balance innovation and trust, ensuring data-driven finance evolves responsibly and transparently…
FCA’s 2025 PEP Guidance refines PEP definitions allowing case-by-case discretion on sign-off and Enhanced Due Diligence (EDD) duration
It emphasises a risk-based, proportionate approach to enhanced due diligence, requiring senior management approval but allowing flexibility in signatories. Firms must promptly update PEP status and ensure clear documentation, training, and compliance oversight, aligning policies with consumer protection principles. This guidance reflects lessons from the FCA’s 2024 PEP review and replaces earlier versions…
FCA and PRA launch consultation on SM&CR reform, aiming to simplify checks, speed approvals, and support growth – have your say by 7 Oct 2025
Proposed changes include extending timelines for senior manager approvals, reducing duplicative certification roles by 15%, and simplifying annual checks to certify individuals as ‘fit and proper’ for their roles. These measures are part of a broader initiative to enhance the competitiveness and efficiency of the UK financial services sector…
Gambling Commission sets out new rules for financial penalties with six-step model focused on disgorgement and deterrence in its 2023 2023 consultation response
Key changes include a transparent six-step process covering consumer harm, illicit gain, seriousness, deterrence uplifts, discounts for early cooperation, and affordability checks to avoid insolvency risk. A new “disgorgement” step ensures recovery of illegal profit or consumer loss, while enhanced financial key-event reporting will capture changes in ownership and funding structures…
FCA shuts down 1,600+ scam websites, removes 50+ rogue apps, and flags 20,000 illegal promotions in 2024, ramping up its tech-powered fight against financial crime
The FCA took action against unauthorized ‘finfluencers’ on social media, issuing 38 alerts and interviewing 20 individuals under caution. Additionally, the FCA canceled the authorizations of over 1,500 firms, marking a 20% increase from the previous year. These measures are part of the FCA’s broader strategy to enhance consumer protection and market integrity…
UK Govt and MAS Singapore pledge joint crackdown on FC, focusing on digital finance risks, AI misuse, cross-border fraud, ESG integrity, tokenisation oversight, and global disclosure alignment
Key discussions centred on emerging threats from digital finance, including tokenisation, cross-border fraud, and the misuse of AI, while both sides pledged deeper collaboration on Project Guardian and Global Layer One to enhance oversight of tokenised markets. The dialogue also addressed the integration of AI in AML systems, stronger ESG governance to prevent greenwashing, and alignment on disclosure standards to bolster transparency. Both countries committed to continued engagement to enhance regulatory alignment, data-sharing, and AML/CFT frameworks in the face of evolving financial crime risks…