Laura WilesThe FCA has updated its webpage on cash-based money laundering, which sets out the regulator’s recent work on reducing money laundering through cash deposits via the Post Office, and its expectations of firms’ controls.
The FCA has taken the opportunity of updating the page to include its financial crime priority in its new 5 year strategy, to explain what it has done in the past and how it will continue to treat further reduction of the threat from all cash deposits, including those at the Post Office, as priority. It plans a multi-firm review in 2025/26 that will look at the financial crime risks from cash-based money laundering.