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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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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…
GC fines Taichi Tech Ltd £170K for regulatory breaches including the use of unfair terms and conditions, and orders a third-party audit to assess the effectiveness of its AML and safer gambling controls
Taichi Tech Limited breached the fair and open licensing condition by including a discretionary term allowing the operator to close customer accounts or forfeit winnings without clear justification. Such terms lack transparency and may lead to unfair outcomes for consumers. Some customers were able to gamble large sums within a short period of time, despite the operator holding limited customer information…
OECD’s 2024 Progress Report on Tax Co‑operation for Development hows that global tax transparency tools are empowering developing countries to uncover offshore evasion and boost revenues
The report underscores the importance of inclusive multilateralism, effective exchange of information, and targeted support in strengthening domestic resource mobilisation and combating tax evasion.
RUSI’s new report reveals a sharp rise in tech-enabled organised vehicle theft in the UK, urging urgent coordinated action
The RUSI report highlights that organised vehicle theft poses significant financial crime risks, including facilitating money laundering through the illicit trade and export of stolen vehicles. It underscores the need for enhanced cross-sector collaboration and strengthened regulatory measures to disrupt criminal networks exploiting vehicle theft for financial gain.