In March 2026, the UK government brought in significant changes to the rules for how UK firms mitigate and manage money laundering risks. Most of the provisions laid in a statutory instrument are expected to come into force in late June or early July 2026, with the remainder in 2027. While many of these changes are welcome and tighten up the rules, others could make the UK more vulnerable to dirty money without the guardrails of robust supervision. Furthermore, with the Financial Action Task Force (FATF) launching a major review of the UK’s AML regime next year, the government must go far beyond these measures to show it is seriously addressing the UK’s dirty money problem.
Spotlight on Corruption recommends stronger supervision of firms’ decisions on high-risk transactions, making the Financial Conduct Authority the lead money laundering supervisor, reviewing whether more businesses should be brought into the regulated sector, and publishing a plan to address barriers to investigating and prosecuting high-end money laundering.
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