Four people have been arrested following a major investigation by the FCA and the police into fraud and money laundering activity in London and the South.

Former investment adviser and convicted money launderer Richard Faithfull has been sentenced to an additional 499 days in prison for failing to fully pay the money he owes under a Confiscation Order.

HMRC investigators have seized over £1.1m following a raid on a money service business in London.

A sacked HM Revenue and Customs (HMRC) officer who abused her position to help her husband launder £3.3m of criminal money has been sentenced today.

Challenger bank Metro Bank has been fined £16m by the Financial Conduct Authority for money laundering failings from 2016 to 2020.

The FCA’s anti money-laundering department has urged professional bodies to improve their anti-money laundering efforts after it reported ineffective supervision.