By Neil Hodge2023-08-29T12:39:00
The United Kingdom’s set of proposals to beef up anti-money laundering (AML) controls has received mixed reception from experts.
The Treasury released its consultation on the reform of its AML and countering the financing of terrorism (CFT) supervisory regime on June 30 following criticism from bodies including the Financial Action Task Force that the U.K.’s approach to oversight and monitoring was vulnerable and ineffective.
Currently, AML/CFT supervision in the United Kingdom is carried out by three statutory regulators—the Financial Conduct Authority (FCA); HMRC, the country’s tax watchdog; and the Gambling Commission—and 22 professional bodies representing accountancy and law firms.
2023-09-12T15:00:00Z By Neil Hodge
The former CEO of NatWest’s decision to leak client details to the press regarding Nigel Farage is likely to cost the financial industry millions in new compliance checks as U.K. regulators prepare reviews into how banks treat people with extreme political views.
2023-09-05T15:23:00Z By Kyle Brasseur
The Financial Conduct Authority announced the scope of its review into the treatment of U.K.-based politically exposed persons, the latest development in response to the Nigel Farage “debanking” scandal.
2023-08-31T14:05:00Z By Neil Hodge
Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
2025-08-01T22:31:00Z By Oscar Gonzalez
The Securities and Exchange Commission is taking its pro-crypto messaging on the road, planning a series of events for its Crypto Task Force that will be held across the U.S. starting on Aug. 4.
2025-08-01T20:07:00Z By Aly McDevitt
The DOJ is warning that simply scrubbing DEI-related words from policy documents or training materials—and replacing them with thinly veiled proxies—will not protect federally funded organizations from legal scrutiny.
2025-07-31T20:37:00Z By Neil Hodge
When growth slows, governments often cut rules to attract investment, as the U.K. has in its financial services sector, which contributes 8.8% of GDP, but easing the “compliance burden” raises concerns about oversight, governance, and prioritizing profits over safety.
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