FCA shuts down payments firm for fincrime failures: What other firms can learn from the latest enforcement action
The Financial Conduct Authority (FCA) has secured a High Court order placing Euro Exchange Securities UK Limited (EES) into special administration after raising serious concerns about the firm’s financial crime controls. The decision follows regulatory intervention earlier in June, when EES was ordered to stop providing regulated electronic money and payment services. The court confirmed […]
Who must register for Anti-Money Laundering (AML) supervision in the UK?
Anti-Money Laundering (AML) registration and the subsequent regulations that firms must adhere to are crucial for firms and the broader financial system for several important reasons. First and foremost for preventing criminal activities: AML regulations are designed to prevent businesses from being unknowingly involved in money laundering, terrorist financing, and other illegal financial activities. By […]
Meeting FCA AML expectations: what AML compliance teams need to know
Key takeaways Policies aren’t the problem, execution is: firms broadly understand FCA expectations, but struggle to apply them consistently in practice. CDD and EDD need to be clearly defined and operationalised: stronger firms translate risk into specific, actionable steps rather than high-level policy language. Risk-based CDD is still uneven: weaker firms rely on standardised approaches, […]
PSD2 compliance: What businesses need to know
PSD2 enhances payment security, competition, and consumer protection in the EU. Key elements include Strong Customer Authentication, access to account, data privacy, and regulatory compliance, with penalties for non-compliance.
Compliance data and metrics guide
Compliance is a measure of how effectively a company operates while meeting legal and regulatory obligations. At the heart of this lies compliance data: the information that shows whether policies, procedures, and controls are working as intended. Collecting this data is only the first step; interpreting it through meaningful metrics transforms it into actionable insight […]
How to choose KYC software for UK AML compliance under MLR 2017
Choose KYC (Know Your Customer) software by mapping each MLR 2017 obligation (CDD, risk-based approach, ongoing monitoring, and record-keeping) to a software capability and a downloadable audit output you can produce on demand. This guide gives UK compliance teams a practical checklist and vendor due diligence questions to make that mapping possible. What is AML […]
A complete guide to Customer Due Diligence (CDD)
Enhanced Due Diligence is an advanced Know Your Customer (KYC) process that allows for the identification and investigation of any risk factors associated with establishing business dealings with a client. In today’s ever-connected and ever-changing world, financial crime continues to pose a significant threat to economies and organisations. In fact, the National Crime Agency estimates […]
How Companies House changes will transform Director and PSC checks: What firms need to know
The UK’s Companies House introduces mandatory identity verification from 18 November 2025, requiring directors and PSCs to verify their identities, with significant implications for compliance, onboarding, and AML/KYC frameworks.
February regulatory roundup: Structural shifts amid tighter supervision
After a headline-heavy January, the focus shifted to structural developments that will shape how AML frameworks operate over the next few years. Here’s a look at the February developments shaping compliance priorities and what they mean in practice for regulated firms. Catch up on January’s regulatory roundup here. The United Kingdom Companies House identity verification […]
AML compliance around the world: UK and global insights
Financial crime isn’t standing still, and neither can regulated firms. From money laundering to fraud and terrorist financing, the threats are evolving faster than traditional compliance processes can handle. Regulatory expectations are tightening, supervision is becoming more proactive, and gaps in AML frameworks can carry serious consequences for both organisations and individuals. This guide breaks […]
A misspelt name: the sanctions slip that cost Bank of Scotland £160,000
In late January, the UK’s Office of Financial Sanctions Implementation (OFSI) published one of its first enforcement outcomes of 2026 when it fined the Bank of Scotland £160,000 for breaching the UK’s Russian sanctions regime. For most regulated firms, sanctions breaches are a scenario that most compliance teams will dread. When they do surface, breaches […]
A complete guide to financial crime and AML compliance
Financial crime isn’t something happening on the fringes of the financial system anymore, it runs through it. From everyday fraud affecting individuals to large-scale money laundering operations moving billions, the scale and impact continue to grow. For regulated businesses, that creates a clear expectation: prevent it, detect it, and prove you’re doing both effectively. At […]