News & insights

FATF Reports on UK's Progress on its Technical Compliance Deficiencies

Written by Insight & Partnership Team | May 1, 2022 12:32:00 PM

The UK has made progress to expand its ability to conduct operational analysis by initiating the SARs Reform Programme.

However, the staff expansion at the UK FIU’s is “still insufficient” given the size of the UK financial sector, and the planned IT upgrades aimed at bolstering the UK FIU’s operational analysis are either under construction or still in the pilot stage.

The UK is now compliant on 24 Recommendations, largely compliant on 15 Recommendations, and partially compliant on 1 Recommendation.