NCA and FCA publish priorities to combat biggest economic crime threats

The National Crime Agency (NCA) and the Financial Conduct Authority (FCA) have released nine economic crime priorities for the UK’s regulated sector. These priorities focus on threats such as economic crime and sanctions evasion by UK based professional enablers, cash-based money laundering, money mule exploitation, the abuse of power by overseas PEPs and fraud involving overseas jurisdictions.

With an estimated £100 billion laundered annually in the UK—mainly from drugs, fraud, trafficking, and small boat-related crimes—this initiative fulfills a promise in the UK’s second Economic Crime Plan. It aims to strengthen collaboration between the public and private sectors against financial crime and terrorist financing.

The priorities, aligned with the National Risk Assessment (NRA), are backed by the Home Office, HM Treasury, UK Finance, and the wider financial industry. They are designed to help regulated firms allocate resources more efficiently without added costs, while maintaining existing compliance and customer protection efforts.