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British Regulator Cuts AML Investigations by Half in 17 Months

By Koos Couvée

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. Figures obtained by ACAMS moneylaundering.com through a freedom of information request show that the FCA as of January had 19 active investigations into companies suspected of breaching the U.K. Money Laundering Regulations, down from 38 in September 2022. The agency finalized five AML-related penalties for £128 million combined during those 17 months, led by the extraction of £108 million from Banco Santander. Guy Wilkes, a...

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