The Financial Action Task Force (FATF) has issued a follow-up report on the UK’s progress on addressing its technical compliance deficiencies identified in its 2018 mutual evaluation.  The UK has made progress to expand its ability to conduct operational analysis by initiating the SARs Reform Programme. However, the staff expansion at the UK FIU’s is “still insufficient” given the size of the UK financial sector, and the planned IT upgrades aimed at bolstering the UK FIU’s operational analysis are either under construction or still in the pilot stage. The UK is now compliant on 24 Recommendations, largely compliant on 15 Recommendations, and partially compliant on 1 Recommendation.

https://www.fatf-gafi.org/media/fatf/documents/reports/fur/Follow-Up-Report-United-Kingdom-2022.pdf

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