Britain's Financial Conduct Authority has reduced the number of investigations into companies suspected of breaching anti-money laundering rules by half since September 2022, suggesting that the regulator has taken a new approach against AML violators.
The appointment of a high-ranking law enforcement official to co-direct enforcement at the U.K. Financial Conduct Authority could lead to more prosecutions against financial criminals and action against unlicensed companies, legal analysts told ACAMS moneylaundering.com.