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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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Skillcast blog on ‘8 Ways to Protect your Firm from Money Laundering’

October 10, 2023

Money laundering regulations aim to reduce this figure by making it harder for criminals to use the financial system to launder their ill-gotten gains. Secondly, it enables the authorities to recover any proceeds of crime and take the financial incentive out of crime…

HMRC updates guidance on how to register for the Economic Crime Levy.

October 7, 2023

Guidance added for amending a registration, which can now be done oline via an Economic Crime Levy account. Also guidance updated on what information is needed to register a charity, trust, unincorporated association, registered society or non-UK establishment.

HM Treasury publishes details for OFSI Correspondent Banking Payments licence

October 7, 2023

This licence is granted under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 (“the Russia Regulations”) and Regulation 32 of the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 (“the Belarus Regulations”).

FCA updates webpage on ‘Cryptoasset AML/CTF regime: feedback on good and poor-quality applications’

October 6, 2023

This feedback is not exhaustive and should be viewed together with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, as amended (MLRs), relevant guidance and the information on our website about registration applications from…

UK AAT publishes its 2022-23 anti-money laundering annual report

October 2, 2023

The report aims to provide transparency over AAT’s work as a supervisory authority in this period, including an overview of all AML monitoring activities and providing insight into member compliance with the Money Laundering, Terrorist Financing and Transfer…

UK criminalizes membership in Wagner Group

October 1, 2023

The Wagner Group, its leaders and supporters, are already subject to financial sanctions in the UK. The process and criteria applied in proscribing entities are set forth in the Terrorism Act 2000.  The factors to be taken into account by the Home Secretary in electing….

JMSLG receives ministerial approval for revisions to Part II Sector 22 of its guidance (cryptoasset providers and custodian wallet providers)

September 20, 2023

he new guidance relates to the provisions of The Money Laundering Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) that implement the Travel Rule for cryptoasset transfers in the UK. The new obligations per Regulations 64A-64H come into effect on 1 September 2023.

Lindar Media faces UKGC regulatory action for AML failures

September 20, 2023

Lindar Media Limited, the operator of online casino Mr Q, is facing regulatory action by the UK Gambling Commission and has been ordered to pay £690,947 for social responsibility and anti-money laundering failures. The regulatory action follows…

Home Office publishes annual report on unexplained wealth orders

September 19, 2023

Report on the number of unexplained wealth orders applied for and issued from 15 May 2022 to 14 May 2023.

Home Office releases annual report and accounts: 2022 to 2023

September 19, 2023

A review of the Home Office’s vision and priorities for the year ending March 2023.

FCA publishes research note covering international perspectives of de-risking

September 19, 2023

The FCA’s review of publicly available information about the nature, scale and impact of de-risking.

FCA publishes findings of its initial data exercise on bank account access and closures

September 19, 2023

The information supplied by banks, building societies and payment companies suggests that no firm closed an account between July 2022 and June 2023 primarily because of a customer’s political views…

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