Fraud
Industry News
The assessment highlights the growing scale and complexity of financial crime threats facing the UK.
Key takeaways include:
➡️ Money laundering remains a major concern, with criminals exploiting professional services, cryptoassets, and complex corporate structures to conceal illicit funds;
➡️ Fraud is the most commonly reported crime in the UK, with authorised push payment (APP) fraud, investment scams, and phishing attacks—often powered by artificial intelligence (AI) —causing billions in losses;
➡️ The misuse of financial systems by state and non-state actors engaged in sanctions evasion and illicit finance is increasing, including through cryptoassets and weak international regulation; and
➡️ Professional enablers such as lawyers, accountants, and trust or company service providers (TCSPs) are often being used to help criminals launder money and obscure ownership structures.
✅ Firms should review the report as part of ensuring FCC frameworks are comprehensive and responsive to evolving financial crime threats.
