On 15 July 2025, the Financial Conduct Authority amended Finalised Guidance 25/3: The treatment of politically exposed persons for anti-money laundering purposes by adding guidance to clarify that firms should not treat non-executive board members of UK civil-service departments as a politically exposed persons.
On 16 July 2025, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2025/1184 updating the list of high-risk third countries set out in Delegated Regulation (EU) 2016/1675. These countries have been identified with strategic deficiencies in their anti-money laundering and countering the financing of terrorism regimes
On 8 July 2025, the European Commission (Commission) adopted a Delegated Regulation that will insert a review clause into the Delegated Regulation that it adopted on 10 June 2025 which amends the list of high-risk countries laid down in Commission Delegated Regulation (EU) 2016/1675.
Background
On 14 July 2016, the Commission adopted Delegated
On 7 July 2025, the Financial Conduct Authority (FCA) published Finalised Guidance 25/3: The treatment of politically exposed persons for anti-money laundering purposes (FG25/3).
Background
The FCA first produced guidance in July 2017 (FG17/6) for firms to apply a proportionate approach when dealing with politically exposed persons (PEPs).
On
On 3 July 2025, the European Supervisory Authorities announced that they had concluded a multilateral Memorandum of Understanding (MoU) with the European Union’s new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) to ensure effective cooperation and information exchange between the four institutions.
Article 91 of the Regulation
On 3 July 2025, the European Central Bank (ECB) announced that it had signed a Memorandum of Understanding (MoU) with the European Anti-Money Laundering Authority (AMLA).
The MoU has been concluded as part of the new EU anti-money laundering package and fulfils the legal requirement under Article 92(3) of
On 26 June 2025, the Financial Action Task Force (FATF) published its sixth report on the global implementation of the FATF Standards for virtual assets (VAs) and virtual asset service providers (VASPs). It provides an overview of the global implementation of FATF Recommendation 15, including the Travel Rule.
FATF
On 22 June 2025, the Financial Action Task Force (FATF) updated its non-binding Guidance Paper “Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion”.
Background
The Guidance Paper does not provide a single model for promoting financial inclusion in the anti-money laundering / countering the financing of terrorism (AML/CFT) context.
On 18 June 2025, the Financial Action Task Force (FATF) announced that changes to Recommendation 16 of the FATF standard, also referred to as the ‘Travel Rule’ in the context of virtual assets, were agreed by members at the FATF’s June 2025 Plenary meeting. The changes will come into effect by the end
On 10 June 2025, the European Commission (Commission) adopted a Delegated Regulation which amends Delegated Regulation (EU) 2016/1675.
Delegated Regulation 2016/1675 is provided for under the Fourth Money Laundering Directive (4MLD) identifying third countries that have strategic deficiencies in their anti-money laundering (AML) and countering the financing of terrorism