The Priorities are aligned to the UK National Risk Assessment (NRA) and NCA National Strategic Assessment (NSA) and are intended to support regulated firms in effectively allocating resources to address and mitigate threats.
The Prioritised focus areas are:
➡️ Professional Enablers: Economic crime and sanctions-evasion facilitated by those based or registered in the UK;
➡️ Politically Exposed Persons: Transaction flows and corporate structures associated with the abuse of power by overseas PEPs;
➡️ Cryptoassets: Creating a cryptoasset ecosystem which is increasingly resilient to criminal abuse;
➡️ Criminal Cash Consolidation: cross-border movement and depositing of funds into the UK banking system;
➡️ Priority Jurisdictions: Money laundering in the UK or through UK corporate structures with links to priority jurisdictions;
➡️ Fraud: Perpetrated by international offenders against UK victims;
➡️ Money Mules: Exploitation of money mules for fraud and other economic crime purposes;
➡️ Telecommunications: Tackling the significant value of frauds in the UK originating from telecommunications services or online platforms; and
➡️ Terrorist Financing: Financing of terrorist attacks or plots in the UK.
✅ Regulated firms should review the NCA-FCA priorities for broader awareness of UK government and regulatory objectives, and incorporate any new and ongoing risks into their financial crime frameworks as required.