United Kingdom: Money Laundering

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.

The private wealth management sector is uniquely susceptible to financial crime risks, such as fraud, money laundering and sanctions breaches, as highlighted in the FCA's Dear CEO letter.

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

Syed Rahman of Rahman Ravelli outlines the case and the likely reasons for the National Crime Agency's course of action.

Niall Hearty of Rahman Ravelli considers the European Union's latest move

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.

Football's growing global economic footprint has made it a target for financial crimes like money laundering and corruption. New EU and UK regulations now mandate robust compliance frameworks, risk management, and transparency to address these vulnerabilities and enhance accountability.

The FCA's new guidance outlines requirements for identifying controllers, submitting control change notifications, and assessment criteria, providing a clearer framework for UK acquisition oversight and regulatory compliance.