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The Financial Conduct Authority has secured an additional 499-day prison sentence against convicted money launderer Richard Faithfull after he failed to comply with a court-ordered confiscation payment exceeding £529,000. The latest legal action follows his earlier conviction for laundering £2.5 million connected to international investment scams and organized criminal networks. The case marks another major enforcement success for the FCA as authorities intensify efforts

Britain’s Financial Conduct Authority (FCA) carried out coordinated enforcement action on Wednesday, targeting eight London addresses suspected of engaging in illegal peer-to-peer cryptocurrency trading in what it described as its first operation of this kind conducted jointly with other agencies. The financial regulator confirmed the action as part of a broader effort involving cooperation with tax authorities and police under money laundering and terrorist financing regulat

The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has published its latest review into how professional body supervisors oversee the legal and accountancy sectors, pointing to measurable improvements since its establishment in 2018 while warning that deep-rooted weaknesses in enforcement remain unresolved. Although supervisory standards have generally improved over the past several years, the regulator continues to express concern about inconsistent d

The Financial Conduct Authority has handed Nationwide Building Society a £44m fine after finding serious shortcomings in its anti-money laundering and financial crime controls over a period of several years. According to the UK regulator, Nationwide operated with inadequate anti-financial crime systems and controls between October 2016 and July 2021. During this time, those controls failed to effectively monitor transactions carried out by customers holding personal current

The Financial Conduct Authority (FCA) has unveiled a new slate of growth initiatives for 2026, with a major focus on enabling UK-issued stablecoins to deliver quicker and more convenient payment options. As part of this effort, the regulator plans to open its sandbox to allow firms to test stablecoin issuance in a controlled environment, promoting both safe experimentation and forward-looking policymaking. In a letter addressed to the Prime Minister, the FCA noted that nearly