Information on investigations into criminal and civil breaches of the Money Laundering Regulations

For the years 2016 to 2021, I would like the following information;

1.  How many live single track criminal investigations does the FCA currently have ongoing in relation to breaches of the MLR 2007?
2.  How many live single track criminal investigations does the FCA currently have ongoing in relation to breaches of the MLR 2017 only?
3.  How many live single track criminal investigations does the FCA currently have ongoing in relation to breaches which span a single period encompassing both the MLR 2007 AND the MLR 2017?
4.  How many live dual track criminal/civil investigations does the FCA currently have ongoing in relation to breaches of the MLR 2007 only?
5.  How many live dual track criminal/civil investigations does the FCA currently have ongoing in relation to breaches of the MLR 2017 only?
6.  How many live dual track criminal/civil investigations does the FCA currently have ongoing in relation to breaches which span a single period encompassing both the MLR 2007 AND the MLR 2017?
7.  How many single track criminal investigations into breaches of MLR 2007 and/or MLR 2017 has the FCA discontinued since January 2020?
8.  How many dual track criminal/civil investigations into breaches of MLR 2007 and/or MLR 2017 has the FCA discontinued since January 2020?

Questions 1 – 6

Where Anti-Money Laundering (AML) investigations can lead to either criminal or regulatory outcomes and it is unclear at the outset of the investigation which is likely to be the most appropriate disposal they will be opened as both regulatory/civil and criminal investigations.

This enables the FCA to decide, following a review of the evidence, whether; a) there is sufficient evidence of serious misconduct for the investigation to continue and b) whether it should progress toward criminal or regulatory/civil outcome. Investigations may progress as breaches of the relevant Money Laundering Regulations or as breaches of the FCA’s Principles for Businesses and associated rules. 

The FCA currently has 19 investigations open into AML failings under the Money Laundering Regulations.

Of these 19:

• One single track criminal investigation relates to breaches of the MLR 2007
• One single track criminal investigation relates to breaches under both the MLR 2007 and the MLR 2017
• Three dual track criminal/civil investigations relate to breaches of the MLR 2017
• Thirteen of the investigations relate to breaches of the MLR 2007, where we have deemed it appropriate to consider regulatory/civil breaches only; and
• One investigation is concerned with breaches of both the MLR 2007 and the MLR 2017, where we have deemed it appropriate to consider regulatory/civil breaches only.

Question 7 

The FCA has made the decision to close 3 single track criminal investigations into breaches of both the MLR 2007 and the MLR 2017 following an evidential review since January 2020.

Question 8

The FCA has made the decision to close 7 dual track criminal/regulatory investigations into breaches of the MLR 2007 following an evidential review since January 2020.