Information on enforcement investigations MLR 2007, MLR 2017, POCA 2002 - February 2022

FOI Release Date of Release:

Reference Case Number: FOI8960

Freedom of Information: Right to know request:

  1. How many live single-track criminal investigations does the FCA currently have ongoing in relation to breaches of the UK MLR (encompassing both the MLR 2007 and/or MLR 2017)? Please can you also indicate how many of these investigations relate to individuals and how many relate to corporate entities.
  2. How many live dual-track criminal/civil investigations does the FCA currently have ongoing in relation to breaches of the UK MLR (encompassing both the MLR 2007 and/or MLR 2017? Please can you also indicate how many of these investigations relate to individuals and how many relate to corporate entities.
  3. How many civil enforcement-only investigations does the FCA currently have ongoing in relation to breaches of the UK MLR (encompassing both the MLR 2007 and/or MLR 2017)? Please can you also indicate how many of these investigations relate to individuals and how many relate to corporate entities.
  4. How many single-track criminal investigations into breaches of the UK MLR (encompassing both the MLR 2007 and/or MLR 2017) have been discontinued since 11 October 2021? Please can you also indicate how many of these investigations relate to individuals and how many relate to corporate entities.
  5. How many live investigations does the FCA currently have ongoing into a breach of section 330 or 331 of the Proceeds of Crime Act 2002 (POCA)?
  6. Has the FCA ever launched a formal investigation into a breach of section 330 or 331 of the Proceeds of Crime Act 2002 (POCA)? If so how many investigations has the FCA carried out into such breaches? For each investigation, please give the relevant year of the investigation and whether that investigation was carried out in relation to section 330 or 331.
  7. Has the FCA ever brought a criminal prosecution into a breach of section 330 or 331 of the Proceeds of Crime Act 2002 (POCA)? If so, how many prosecutions has the FCA carried out into such breaches? For each prosecution, please specify whether the prosecution was brought under section 330 or 331, provide the name of the relevant court centre, year of prosecution, the outcome (e.g. convicted after trial/pleaded guilty/discontinued etc) and details of any relevant sentence applied by the court.

FCA response:

By way of context however, the FCA will open an enforcement investigation in connection with anti-money laundering (AML) concerns where there are circumstances to suggest that a firm or individual is in breach of its responsibilities under statute or its obligation to comply with FCA rules and principles.

At present, there are 41 open enforcement investigations in relation to potential AML failings. Investigations may be opened to consider failings under the relevant Money Laundering Regulations only, but it is more likely that we will investigate potential breaches of the Regulations alongside potential regulatory breaches.