United Kingdom: Money Laundering

While reform has been on the agenda following HM Treasury's 2023 consultation, the government's decision to move anti-money laundering (AML) supervision from professional body supervisors...

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.

On 17 July 2025, the UK finance ministry, HM Treasury (HMT), published its response on improving the effectiveness of the UK Money Laundering, Terrorist Financing and Transfer of Funds...

The Financial Conduct Authority (FCA) and National Crime Agency (NCA) have jointly published a set of "System Priorities" for the UK's response to economic crime in 2025.

On 18 June 2025, the UK Office for Financial Sanctions Implementation (OFSI) published a threat assessment (the Assessment) on compliance with UK sanctions...

On 4 September 2024, LetterOne acquired a 14.87% stake in Harbour Energy for $11.2 billion. Despite being partially owned by sanctioned Russian oligarchs, LetterOne maintains that they are not involved in its management. The UK also introduced amendments to sanctions regulations affecting legal services and trade enforcement.

Gifted deposits ease homebuying costs but require donor verification, compliance with anti-money laundering rules, and adherence to lender guidelines, ensuring a smooth, legally compliant transaction.

The FCA and PRA's new guidance (FG24/5) on UK change in control applications clarifies existing practices. It emphasizes controller analysis factors, financial soundness, and integrity assessments, while detailing submission and review timelines. Market participants should review the guidance for compliance during acquisitions of FCA or PRA-authorised firms.