The Payments Vision Delivery Committee has announced its strategy to shape the next generation of UK retail payments infrastructure. Bringing together the Treasury, Bank of England, Financial Conduct Authority and Payment Systems Regulator, the initiative marks a key milestone in delivering the government’s National Payments Vision and its ambition for a modern, inclusive and secure payments ecosystem. The new strategy outlines five strategic outcomes focused on innovation, c

It has been little more than a month since United States President Donald Trump pardoned Changpeng Zhao, the former chief executive of Binance. Zhao, better known as CZ, had pleaded guilty in 2023 to enabling money laundering through the world’s largest cryptocurrency exchange. He served four months in prison, paid a substantial fine, and agreed to step down as CEO. The case was described by the US Department of Justice as a landmark in crypto enforcement. Yet, during an int

The Office of Trade Sanctions Implementation (OTSI) has released new guidance aimed at helping businesses in the freight and shipping sector identify and counter Russian sanctions evasion. The publication provides practical tools for companies to strengthen compliance frameworks and safeguard supply chains against exploitation by sanctions evaders. The guidance outlines goods at heightened risk of diversion to Russia, red flag indicators of circumvention, and best practice re

The term narco-terrorism, once an academic and counter-terrorism buzzword, has entered the mainstream of United States criminal justice and political discourse. Its resurgence is not coincidental. On 13 May 2025, the Department of Justice (DoJ) unsealed a sweeping indictment against multiple leaders of the Sinaloa Cartel , charging them with narco-terrorism, material support of terrorism, and drug trafficking. This landmark case marks the first time such charges have been app

The European Banking Authority’s (EBA) response to the European Commission’s Call for Advice marks a pivotal step towards establishing the European Union’s new anti-money laundering and countering the financing of terrorism (AML/CFT) regime. Published on 30 October 2025, the EBA’s recommendations aim to ensure that the future Anti-Money Laundering Authority (AMLA) launches on a strong, risk-based foundation. At the heart of the EBA’s advice lies a clear intention to create a

Economic sanctions are the sharp edge of modern diplomacy. In a world marked by geopolitical fracture and strategic competition, they function as tools of coercion and containment, targeting adversaries without the deployment of armed force. But not all sanctions are created or enforced equally. In the UK, financial sanctions and trade sanctions operate within distinct legal and institutional frameworks. Financial sanctions, enforced by the Office of Financial Sanctions Imple

The United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has released a new Financial Trend Analysis (FTA) revealing around 9 billion dollars in potential Iranian shadow banking activity that passed through US correspondent accounts in 2024. The findings, based on reports from US financial institutions, underscore the scale and sophistication of Tehran’s global sanctions evasion operations. According to FinCEN, Iran’s shadow banking network

The Financial Conduct Authority (FCA) has banned and fined financial advisor Neil Sedgwick Dwane £100,281 for insider dealing, following misconduct that breached market integrity and professional trust. In 2022, Mr Dwane, acting as an advisor for ITM Power Plc (ITM), had access to confidential market-sensitive information concerning an upcoming company announcement scheduled for 27 October. The announcement triggered a 37% drop in ITM’s share price. The day before the announc

The European Banking Authority (EBA) has published its fifth and final Report on the Functioning of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Colleges , finding that the framework has become an effective tool for improving information exchange and strengthening AML/CFT supervision across the European Union. However, the EBA noted that one of the key objectives of the system remains unfulfilled — the ability to address issues affecting multiple

A Financial Conduct Authority (FCA) survey has found that two-thirds of corporate finance firms not currently required to submit financial crime returns may be falling short of their obligations under the Money Laundering Regulations, raising concerns about weak oversight and inconsistent compliance practices. Corporate finance firms play a critical role in supporting the growth and success of the UK economy by helping businesses secure investment and lending. However, the FC

For more than a decade, challenger banks have styled themselves as the antidote to a stagnant, fee-ridden and tech-deficient banking...

The Financial Conduct Authority (FCA) has called on banks and payment firms to strengthen their defences against romance scam fraud after uncovering serious shortcomings in how the sector identifies and prevents this growing form of financial crime. Despite positive examples of firms intervening effectively, the regulator found repeated instances where opportunities to stop fraud were missed, leaving victims facing devastating losses. Romance fraud cost victims £106 million i