Related insights: Financial Crime Prevention
FCA to become sole AML supervisor for professional services firms
The Financial Conduct Authority (FCA) is set to become the sole anti-money laundering (AML) and counter-terrorist finance (CTF) supervisor for professional services firms. This change will affect businesses currently supervised by a professional body supervisor (PBS), such as those in the legal and accountancy sectors, and some businesses currently supervised by HMRC, such as trust and company service providers.
Financial crime prevention: what has 2025 brought us?
As we near the end of 2025, we can reflect on some significant changes, both in law and regulation and in regulatory stance. Financial crime prevention is an area that sees constant change, as regulators and enforcement agencies strive to keep up with changes in business practices, technology and consumer behaviour, as well as the constant struggle to stay one step ahead of the criminals.
New fraud prevention measures: what steps does your charity need to take now?
From 1 September 2025, the new failure to prevent fraud offence under the Economic Crime and Corporate Transparency Act 2023 comes into force. This offence makes it a crime for certain organisations to fail to prevent fraud committed by their staff or agents. This may sound obvious, but this new statutory duty will make organisations self-reflect on their internal processes and systems.
Failure to prevent fraud – are you ready?
With the new corporate offence of failure to prevent fraud (FTPF) taking effect on 1 September, we've put together a quick compliance checklist so you can make sure you're ready.
Reforms to the Money Laundering Regulations: what firms need to know
HM Treasury has decided on a package of reforms to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLRs), as part of its response to a 2024 consultation to increase the effectiveness of the regime.
Rebalancing the risk: the FCA's strategy for 2025 to 2030
The Financial Conduct Authority (FCA) has published its much-anticipated strategy for 2025 – 2030. Against a vision of "deepening trust, rebalancing risk, supporting growth, improving lives", the new plan will focus on four key priorities: making the FCA a "smarter" regulator; supporting sustained economic growth; helping consumers navigate their financial lives; and fighting financial crime.
In this article, we take a look in depth at the FCA's plans for each priority concern, and also explore some other focus areas the regulator highlights in the new strategy.
In this article, we take a look in depth at the FCA's plans for each priority concern, and also explore some other focus areas the regulator highlights in the new strategy.
Key points from the FCA's Financial Crime Guide updates
Following its April 2024 consultation, the Financial Conduct Authority made changes to its financial crime guide, or FCG, effective from late November. In this article, written for Law360, Emma Radmore and Laura Wiles take a look at key points arising from the FCA's changes.
Financial institutions: 2025 survival guide
Financial institutions operate in a world in which requirements and expectations rarely stay static. Whether it's financial regulatory requirements, change to corporate, commercial and employment law, keeping up to date with industry best practices or having a weather eye on what happens when things go wrong, there's never a dull day for those in the corporate hot seat.
In this article, we've highlighted 10 things likely to affect all, or many, financial institutions in 2025; each brought to you by Womble Bond Dickinson's sector and service specialists:
In this article, we've highlighted 10 things likely to affect all, or many, financial institutions in 2025; each brought to you by Womble Bond Dickinson's sector and service specialists:
Failure to prevent fraud: get ready for September
It now seems so long ago that we were reporting almost daily on the lively political debates on the scope of the new corporate offence of failure to prevent fraud (FTPF). Finally, the old Government got its way and the offence came onto the statute books within the Economic Crime and Corporate Transparency Act 2023 (ECCTA) in late October 2023. We all wondered whether the new Government would look to make any changes before the offence actually came into effect, but we now have confirmation that it won't, and the offence will come into force on 1 September 2025.
In this article, we look at what the offence is and who it applies to, and how affected businesses should be using the Home Office guidance on "reasonable" prevention procedures.
In this article, we look at what the offence is and who it applies to, and how affected businesses should be using the Home Office guidance on "reasonable" prevention procedures.
The Economic Crime and Corporate Transparency Act: Companies House reveals implementation timetable for upcoming changes
Companies House published a policy paper on 16 October 2024 setting out an indicative timetable for the changes which are still to be introduced by the Economic Crime and Corporate Transparency Act (ECCTA). The changes are expected to further Companies House's objectives of ensuring that the register of companies is accurate and transparent. The timetable is not final, and the changes will be implemented in phases. Companies House has stated that around 50 statutory instruments will be needed to implement the changes. Some transitional arrangements will last until 2027.
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