On 2 April 2025, the Financial Conduct Authority (FCA) published an updated version of its webpage on cash-based money laundering.

The webpage provides information on the FCA’s work to reduce money laundering through cash deposits and its expectations of firms’ controls, including information on access to cash, financial crime controls, and mitigating the risk through systems and controls.

The FCA also sets out its next steps, including:

• It will continue to focus on this area as part of its new strategy for 2025-2030, and further reducing the threat from cash deposits will remain a priority.
• A proactive multi-firm review is planned during the financial year 2025/26, looking at the financial crime risks from cash-based money laundering.