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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
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UK Finance 2025 Annual Fraud Report reveals a complex fraud landscape, with 2024 fraud losses held at £1.17bn, despite a 12% rise in reported cases, with APP fraud down but card and investment scams up
Authorised Push Payment (APP) fraud saw a decline in both value and volume, attributed to heightened industry investment and consumer awareness. However, unauthorised fraud losses rose to £722 million, driven by a 22% surge in remote purchase fraud, where stolen card details are used for online transactions. Notably, 70% of APP fraud cases originated online, and 16% via telecommunications networks. The financial sector successfully prevented £1.45 billion in unauthorised fraud, marking a 16% improvement from the previous year…
UK SFO launches bribery probe into Blu-3 and Mace associates over Microsoft data centre project
The investigation revolves around allegations that more than £3 million in bribes were paid to secure lucrative contracts, triggering coordinated property searches across the UK and Monaco and leading to three arrests. This case underscores the SFO’s growing use of fast, tech-enabled investigative techniques and its sharpened focus on international cooperation, whistleblower outreach, and the application of the new “failure to prevent fraud”…
CPS Economic Crime Strategy 2025 Final Report reveals UK’s firm stance on FC with 25K+ prosecutions, 85.4% conviction rate, and £1.6bn+ recovered through confiscations and major settlements
The report underscores strategic partnerships, modernised disclosure reforms, and increased use of digital tools, all aimed at improving case outcomes, enhancing victim support, and reinforcing public confidence. A new Serious Economic and Organised Crime strategy is now in development to continue this momentum…
NCA dismantles master forgery ring that made over £1m supplying fake IDs used by criminals to evade law enforcement, exploit financial services, and fuel organised crime and human trafficking
The counterfeit IDs, nearly identical to official licenses, enabled offenders to evade law enforcement and support serious organized crime. The forgers laundered over £1 million through a window cleaning business before being arrested, with authorities seizing extensive forgery equipment and cash…
House of Commons briefing reveals banking fraud soared to £1.2bn in 2023, making up over 40% of crimes against individuals, outlining urgent public and private sector action to tackle it
Despite the introduction of a new national fraud strategy and upcoming mandatory reimbursement rules for victims of authorised push payment (APP) fraud, the briefing highlights continued enforcement shortcomings. Alarmingly, only around 2% of reported fraud cases are referred for investigation by local police forces, raising concerns about the capacity and prioritisation of fraud within the criminal justice system…
FCA confiscates over £300K from 3 convicted fraudsters, who ran a fraudulent investment scheme, cold-calling victims to invest in a shell company falsely claiming to trade binary options
Between June 2016 and January 2020, the trio cold-called individuals, convincing them to invest in a shell company purportedly trading in binary options. In reality, the funds were misappropriated to finance their personal lifestyles…
HMT’s latest Economic Crime Levy report unveils a powerful £115m annual plan to elevate AML efforts, strengthen investigations, and take a decisive stand against kleptocracy
The Economic Crime Levy aims to raise funds to support government efforts to combat ML and other forms of economic crime. The funds are used to support various initiatives, including strengthening the UK’s anti-money laundering (AML) regime, improving intelligence gathering, and hiring financial crime investigators…
Met Police secures UK’s first Terrorism Act conviction of an art dealer who pleaded guilty to 8 counts for failing to report suspicious activity after facilitating £140K in sales to a Hezbollah-linked buyer
Oghenochuko Ojiri has become the first person convicted under section 21A of the Terrorism Act 2000 for failing to disclose suspicious art sales…
FCA consults on new rules for cryptoasset trading platforms to boost transparency, protect consumers, and align with traditional finance, as part of its bold Crypto Roadmap – open until 13 June 2025
The discussion paper covers key areas like intermediaries, DeFi, staking, lending, and use of credit to buy crypto, ahead of incoming legislation. The FCA aims to create a regulatory regime that: provides clarity for firms and encourages innovation in the crypto space, ensures appropriate levels of market integrity and consumer protection, drives sustainable, long-term growth of crypto in the UK…
BoE’s AI Consortium explores AI’s role in financial services, focusing on benefits, risks, and safe adoption, while addressing growing concerns around financial crime, ethics, and resilience
The phrase “Shape Future” underscores the consortium’s role in influencing the evolution of financial crime detection and risk management, making it clear that the platform aims to bring innovation to these critical areas. It also emphasizes the dual nature of the consortium’s work: exploring both the opportunities and challenges of AI in this context, which includes enhancing detection capabilities while addressing potential risks…
RUSI’s policy brief outlines critical gaps in the UK’s response to illicit finance and calls for reforms in governance, coordination, funding, and long-term strategic alignment across Govt
Despite the critical nature of combating ML and FC, the government’s approach remains fragmented, with a lack of strategic leadership and effective coordination across key departments. The absence of a unified vision has resulted in an ad hoc system, where the success of efforts against illicit finance relies on personal relationships and informal networks among civil servants rather than clear, long-term planning…
HMT’s new draft crypto rules aim to clamp down on fraud ensuring stricter regulatory oversight, transparency and consumer protection while positioning the UK as a global digital asset hub
This move comes as part of the government’s broader strategy to position the UK as a global leader in digital finance while ensuring that consumers are safeguarded from the risks associated with unregulated crypto activities. Under these new regulations, firms dealing in crypto assets such as Bitcoin and Ethereum will be held to high standards of transparency, operational resilience, and consumer protection, bringing them in line with traditional…