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.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
2025-09-29T19:09:00Z By Adrianne Appel
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
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