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

The Office of Financial Sanctions Implementation (OFSI) has published its Annual Review 2024–25 , outlining a year of significant progress in strengthening the UK’s financial sanctions regime amid escalating global tensions. The release coincides with the announcement by the Chancellor and Foreign Secretary of new sanctions against Russia’s largest oil companies, further tightening pressure on Kremlin revenues and global enablers of its illegal war on Ukraine. OFSI’s report s

The UK has imposed its toughest sanctions yet on Russia, directly targeting its energy sector and the global enablers sustaining President Vladimir Putin’s war in Ukraine. Announced jointly by the Foreign, Commonwealth & Development Office and HM Treasury, the sweeping package of 90 new sanctions cuts deep into the Kremlin’s oil revenues, striking at major producers Rosneft and Lukoil – which together export more than three million barrels per day. Rosneft alone accounts for

The European Banking Authority (EBA) has today released its annual Report on the convergence of supervisory practices for 2024 across the European Union. The Report highlights the EBA’s sustained efforts to strengthen supervisory alignment among Member States, covering prudential supervision, resolution, consumer protection, digital finance, and—until the end of 2025—anti-money laundering and countering the financing of terrorism (AML/CFT). This year’s Report marks the first

The United States and UK have announced their largest-ever coordinated action against cybercriminal networks operating in Southeast Asia, marking a major escalation in international efforts to dismantle transnational scam operations. The US Department of the Treasury, through its Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN), in partnership with the UK’s Foreign, Commonwealth and Development Office (FCDO), has imposed sweeping s

The European Banking Authority (EBA) has published a new report revealing that white labelling – where financial products or services are offered under another company’s brand – is now used by more than a third of banks across the EU. The findings underscore a rapid shift in financial distribution models driven by digitalisation, platformisation, and partnerships between regulated and non-regulated entities. According to the EBA’s 2025 Spring Risk Assessment Questionnaire, 35

The Financial Conduct Authority (FCA) has announced new plans to support the adoption of tokenisation within the UK asset management industry, signalling a major step forward for financial innovation and operational efficiency. Published on 14 October 2025, the consultation paper CP25/28: Progressing Fund Tokenisation  outlines how tokenisation—the digital representation of assets using distributed ledger technology (DLT)—can transform fund operations, reduce costs, and open

The Financial Conduct Authority (FCA) has announced a major new partnership and the launch of two TechSprints to fast-track the UK’s transition towards open finance, marking a significant step in its commitment to drive digital innovation across financial services. The initiative follows the FCA’s January letter to the Prime Minister, in which it pledged to use its powers to accelerate open finance and explore its potential benefits, particularly in supporting small and mediu

In British public discourse, there is a peculiar allergy to the word 'corruption'. From parliamentary scandals to procurement...

The European Banking Authority (EBA) has published a comprehensive report calling on supervisors across the EU to draw lessons from...