Episode Details

This Financial Conduct Authority (FCA) report assesses the risk of Money Laundering Through Markets (MLTM), focusing on wholesale brokers. The report details findings from a thematic review, examining firms' systems and controls regarding risk assessments, customer due diligence, transaction monitoring, and suspicious activity reporting. Case studies illustrate MLTM typologies and risk indicators. The FCA outlines expectations for firms to improve their anti-money laundering practices and proposes collaborative steps with industry and public bodies to mitigate MLTM risks. The report also analyses SAR reporting trends and the effectiveness of the UKFIU's MLTM glossary code.