On 14 December 2021, Transparency International UK (a UK independent anti-corruption organisation) issued a report that explores certain money laundering risks associated with electronic money institutions (EMIs). The report also sets out certain recommendations including that the FCA should conduct a new thematic risk review of the sector. The report also recommends that the FCA’s senior managers and certification regime be extended to all relevant persons working in the EMI industry.
Transparency International UK – report on money laundering risks in EMIs
