Financial crime
Action required. The FCA has published a multi-firm review on money mule typologies and cashing-out patterns. If you run financial crime controls at a bank, building society, PI or EMI, the findings set a clear benchmark for what the FCA expects to see.
Financial crime
The FCA has published good and poor practice findings from a review of 242 firms, with named gaps that double as a self-assessment checklist for compliance leads at asset managers and alternatives firms.
Financial crime
HM Treasury has published its Economic Crime Levy annual report for 2024-25. The full collection and spend figures are in the PDF; your obligations and levy band are unchanged.
Financial crime
The FCA has publicly censured CACEIS UK after the sub-custodian failed to act on three Register checks showing its client was not authorised to hold certain assets. Total recoveries for WealthTek clients now exceed £57m.