On 19 November, an article from Eversheds Sutherland reported that new figures from FCA reveal that half of its investigations into breaches of UK money laundering regulations have been discontinued since the beginning of 2020. The article reviews the current criminal enforcement landscape and takes a look at the numbers of investigations in more detail.  It is suggested that the data may be evidence of the FCA’s gradual realisation that prosecuting breaches to the criminal standard is very far from straightforward; that it is much quicker, easier and less expensive to pursue a civil outcome against regulated firms for breaches of MLR; and that, in view of the nature of many of the breaches under investigation, a civil/regulatory sanction is invariably the more proportionate outcome in any event.


I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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