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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
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FATCA UK Regulations 2013
FATCA UK Regulations Guidance 2013
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House of Commons Library briefing on Cryptoassets notes the UK is tightening regulation to reduce consumer harm, ML and financial stability risks while supporting digital asset innovation
The briefing explains how cryptoassets such as cryptocurrencies, stablecoins, and security tokens operate through distributed ledger technology and remain used primarily for speculative investment rather than mainstream payments. It also highlights concerns around criminal misuse, fraud, and market volatility, alongside forthcoming FCA rules that will bring crypto exchanges, stablecoin issuance, and related activities into the UK regulatory perimeter from 2027…
FCA, BoE and HMT issue joint statement warning that Frontier AI models are intensifying cyber threats, fraud, and operational resilience risks, urging stronger governance and cyber defences
The authorities warn that while AI can improve efficiency, detection capabilities, and financial innovation, it also introduces new systemic risks, particularly where firms rely heavily on third-party AI providers, interconnected digital infrastructure, and automated decision-making systems. The statement emphasises the need for FIs to strengthen governance, AI risk oversight, cyber resilience testing, supply chain security, and operational safeguards to ensure that the adoption of advanced AI technologies does not undermine financial stability…
FCA’s Financial Crime Conference (May 2026) highlighted “dialling up” controls in high-risk areas and “dialling down” where governance is strong, focusing on AI, data quality, resilience and accountability
Key themes emerging from the FCA Financial Crime Conference included growing discussion around “dialling-up” controls, friction and human oversight where risks increase, while “dialling-down” may become possible where firms can demonstrate strong governance, effectiveness and oversight. Discussions also focused heavily on AI governance, explainability, operational resilience, data quality and increasing board accountability expectations…
FCA’s Chief Executive warns that AI-driven criminal activity is turning FC into a national security threat, accelerating the push for technology-driven enforcement and greater intelligence sharing
At the FCA Financial Crime Conference, Nikhil Rathi signalled a major shift in the FCA’s approach to FC, warning that AI-enabled, globally connected criminal networks are increasingly blending fraud, cybercrime, money laundering, sanctions evasion, and hostile-state activity at industrial scale, turning financial crime into a national security issue. The speech highlighted the FCA’s growing focus on intelligence-led supervision, AI-driven analytics, advanced surveillance tools, expanded public-private information sharing, and deeper international coordination…
FCA reports that synthetic data can enhance AML innovation and collaboration by enabling safer data sharing and more effective testing of financial crime detection models
The project assessed how synthetic datasets could support the development and validation of AML tools without exposing sensitive customer information, helping firms overcome barriers linked to privacy, confidentiality, and restricted access to real transaction data. Findings also highlight limitations relating to data fidelity, model bias, and governance, with the report recommending continued industry collaboration and technical development to ensure synthetic data remains reliable and effective for AML/CFT applications.
FCA secures a further 499-day jail term for convicted money launderer after he failed to repay a £529,961 confiscation order linked to £2.5M in fraud proceeds, ensuring he remains liable for victim losses
In 2021, Richard was originally sentenced to 5 years and 10 months in prison after the FCA successfully prosecuted him for laundering around £2.5 million. He was part of a transnational organised crime group that facilitated proceeds from at least seven overseas investment (“boiler room”) frauds, where victims were misled into fake or high-risk investments. Despite being released from custody in June 2025, Faithfull had only repaid £349,214.37 of the court-ordered amount….
CoLP reports UK victims lost over £102M to romance fraud last year, with cases rising 29% to 10,784 as criminals increasingly used online platforms and AI to build fake relationships and extract money
The data shows criminals are increasingly exploiting online relationships through dating platforms, social media, and messaging apps, where they carefully build emotional trust over weeks or even months before requesting money. These scams often involve fabricated stories such as medical emergencies, travel costs, or fake investment opportunities, including a growing link to cryptocurrency-related frauds. Authorities note that offenders are becoming more sophisticated, increasingly using AI-generated images, fake identities…
FCA opens Pre-application support service for crypto firms ahead of the UK’s new FSMA crypto regime, with authorisation applications launching on 30 Sept 2026 before full implementation in Oct 2027
From 11 May 2026, firms planning to carry out regulated crypto activities will be able to request free pre-application meetings with the FCA to discuss their business models, regulatory expectations, compliance requirements, and authorisation process before formally applying. The move forms part of the UK’s broader effort to bring crypto firms under a more comprehensive financial regulatory framework aimed at strengthening consumer protection, market integrity, financial crime controls, and oversight of the rapidly growing crypto sector…
FCA issues ‘Handbook Notice 140’, introducing key updates including a simplified short selling regime, wider reforms to SMCR, listing rules, fees, and compensation schemes to streamline UK regulation
Key changes include the introduction of a standalone UK Short Selling Rules Sourcebook, replacing retained EU provisions with a simpler and more proportionate regime, alongside adjustments to SMCR-related requirements, listing rules, fees, and compensation arrangements. The updates also contain technical and consequential amendments across multiple modules of the Handbook, aimed at improving consistency, removing outdated EU-derived references, and reducing unnecessary complexity…
FCA publishes Cyber Coordination Group insights 2025, highlighting key lessons on strengthening cyber resilience, incident response, managing emerging technology and FC risks
It highlights how firms can better prepare for and respond to cyber threats through more effective incident response and recovery, stronger governance and senior management oversight, improved coordination with third parties, and enhanced testing and scenario planning; it also draws attention to emerging risks such as AI, quantum computing and insider threats, while promoting good practice in identity and access management, threat detection, and operational readiness, with the overall aim of helping firms manage increasingly complex cyber…
FCA spearheaded a global crackdown with 17 regulators on illegal “finfluencers,”targeting unauthorised promotions reaching millions through coordinated enforcement and takedowns
FCA led a global crackdown involving 17 regulators to tackle illegal “finfluencers” promoting unauthorised financial products, combining enforcement actions, account takedowns, and consumer awareness efforts; in the UK, this included securing a guilty plea, launching further criminal proceedings, issuing warnings, and removing over 1,200 illegal financial adverts reaching millions, while calling on social media platforms to take greater responsibility in preventing the spread of harmful financial promotions…
FCA and PRA confirm reforms to streamline the Senior Managers & Certification Regime, reducing compliance burden and boosting flexibility while maintaining strong accountability to support growth
The changes make it easier for firms to comply by increasing flexibility, simplifying processes and reducing administrative costs, forming part of a broader government-led programme to cut regulatory complexity and improve competitiveness. While preserving the core principle of senior-manager accountability, the reforms include measures such as streamlined approval processes, clearer role definitions and potential future reductions in the number of roles requiring regulatory pre-approval, with further simplification planned in subsequent phases.