United Kingdom: Money Laundering

The UK's HMRC has published comprehensive enforcement statistics covering 2025 and early 2026, revealing the scope and outcomes of sanctions enforcement activities including criminal investigations, goods seizures, and penalty assessments. The data provides insight into how authorities are handling sanctions violations through various enforcement mechanisms, from warning letters to compound penalties exceeding £1 million.

The Financial Conduct Authority has proposed significant reforms to investment fund regulations, including allowing certain authorised funds to hold cryptoasset exchange traded notes and streamlining climate disclosure requirements. These changes, alongside updates to money market fund rules and anti-money laundering regulations, represent a substantial shift in the UK's approach to fund management and regulatory compliance. The proposals aim to reduce regulatory burden while maintaining investor protection

HMRC has taken the unprecedented step of publicly naming Petrofac Facilities Management Limited after the company paid a compound settlement of £569,157.07 for Russia sanctions violations. Meanwhile, OFSI has released responses to its call for evidence on ownership and control tests, revealing significant practical challenges and costs faced by businesses in making compliance assessments with limited information.

The UK’s National Crime Agency has published a press release confirming that it has charged John Michael Ormerod with two counts of breaches the UK’s Russian sanctions as well...

On 30 April 2026, the Financial Conduct Authority (“FCA”) published a policy statement (“PS26/7”), setting out rules and guidance to support the adoption of fund tokenisation in the UK.

Cryptoassets, including cryptocurrencies and other digital assets, are a global phenomenon, and they are attracting increasing regulatory attention in many jurisdictions.

The FCA has published its findings on good and poor practice arising from a multi-firm review focusing on business wide risk assessment ("BWRA") and customer risk assessment...

Niall Hearty of Rahman Ravelli outlines the case and the issues involved.

Niall Hearty of Rahman Ravelli considers the findings of a Financial Conduct Authority survey.