Author: Constantinos Solomonides, Consultant, Team Leader
The Financial Conduct Authority (FCA) continues to ramp up its efforts to combat financial crime, emphasising deeper collaboration, intelligence-led supervision and robust enforcement. In recent speeches and insights, including Therese Chambers’ address “Beyond the headlines: the unseen fight against financial crime” at the International Bar Association (IBA) Anti-Corruption Conference, and Nikhil Rathi’s related remarks at the FCA’s Financial Crime conference in May 2026, the FCA has underlined the critical need for industry, regulators, law enforcement, and international partners to work more effectively together.
Financial crime including money laundering, fraud, sanctions evasion, and corruption, costs the UK economy over £100 billion annually. Behind the headlines lies a complex, relentless battle requiring sophisticated tools, better data sharing, and stronger accountability across the board. The FCA is shifting towards a more proactive, outcomes-focused approach to disrupt criminal networks and protect the integrity of the UK financial system.
Key Developments
Strengthened Collaboration and Public-Private Partnerships
The FCA is prioritising closer working relationships with law enforcement, government bodies and industry. This includes enhanced intelligence sharing, joint operations and breaking down silos to tackle cross-border threats more effectively.
Intelligence-Led Supervision and Data-Driven Enforcement
A central theme is moving from reactive to proactive strategies. The regulator is leveraging advanced analytics, industry data, and cross-agency intelligence to identify and disrupt risks earlier. Therese Chambers highlighted the “unseen” work in enforcement and market oversight, stressing the importance of using intelligence to target high-impact cases.
Focus on Emerging Risks and Accountability
Particular attention is being given to crypto-related financial crime, sanctions circumvention, authorised push payment fraud, and the misuse of professional services. The FCA expects firms to maintain rigorous systems and controls while embracing technology to detect suspicious activity. Senior managers face heightened accountability under the SMCR for overseeing effective financial crime prevention.
Regulatory Implications and Compliance Considerations
Firms must treat financial crime prevention as a core business priority embedded in their culture and operations. Key expectations include:
- Comprehensive Business-Wide Risk Assessments (BWRA) and ongoing, risk-based monitoring;
- Proactive engagement with intelligence sharing initiatives and timely reporting;
- Investment in technology, training and controls to address evolving threats such as those in crypto and digital assets;
- Clear documentation of decision-making and evidence of effective oversight.
These messages reinforce obligations under the Money Laundering Regulations, SYSC and Principle 11, with increased supervisory scrutiny and enforcement action for shortcomings.
Financial crime thrives in the shadows. The FCA’s focus on the “unseen fight” serves as a powerful reminder that firms cannot afford to be complacent. Those that fail to strengthen controls, foster genuine collaboration, and demonstrate real accountability risk not only enforcement action and substantial fines but also significant reputational damage and loss of trust. Proactive, intelligence-driven compliance is now a competitive necessity.
How Complyport Can Help
Complyport offers tailored solutions to help firms strengthen their financial crime frameworks in line with the FCA’s expectations. Our services include:
- Financial Crime Risk Assessments and BWRA reviews;
- AML/CTF/CPF, Sanctions, and Anti-Bribery and Corruption gap analyses and implementation support;
- Staff training on emerging financial crime risks, including crypto and sanctions evasion;
- Policy, control framework and governance enhancements;
- Support with intelligence sharing protocols and regulatory engagement;
- Full compliance readiness reviews and ongoing advisory.
Book a Meeting with a Complyport SME
To ensure your firm is effectively positioned to meet the FCA’s expectations in the fight against financial crime, book a consultation with a Complyport Subject Matter Expert today.
Ask ViCA, your Virtual Compliance Assistant. Access instant answers on regulatory changes.
Claim your complimentary 20 queries today! Register here: https://vica.chat
Social Media Post Text and the Hashtags
The FCA is stepping up the fight against financial crime collaboration, intelligence, and strong controls are essential. Don’t let threats hide in the shadows.
#FinancialCrime #AML #FCA #Compliance #Sanctions #CryptoRegulation #FinCrime #UKRegulation #AntiMoneyLaundering #AntiCorruption
