FCA Compliance, End to End
Built for firms regulated by the Financial Conduct Authority — covering the Money Laundering Regulations 2017, FCA Handbook SYSC 6.3, the Proceeds of Crime Act 2002, and goAML-format SAR filing to the National Crime Agency.
The UK's Conduct & Financial Crime Supervisor
The Financial Conduct Authority (FCA) regulates over 50,000 firms in the United Kingdom — banks, payment institutions, electronic money institutions, investment firms, consumer credit lenders, and crypto-asset businesses. It supervises conduct of business and, jointly with the Treasury, financial crime obligations.
The UK's anti-money-laundering framework is built on three statutes: the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 — usually called the MLRs — the Proceeds of Crime Act 2002 (POCA), and the Terrorism Act 2000. The FCA Handbook adds supervisory expectations on top, primarily in the Senior Management Arrangements, Systems and Controls sourcebook (SYSC), and in the Financial Crime Guide.
The FCA enforces actively. Recent years have seen multi-million-pound fines for inadequate transaction monitoring, weak CDD, and slow SAR filing — including individual sanctions against MLROs and senior managers under the Senior Managers & Certification Regime.
A Layered Framework — Statutes, Regulations, Handbook
UK AML obligations are set across primary legislation, statutory regulations, and FCA Handbook chapters. One Constellation maps to all of them.
Money Laundering Regulations 2017
The core statutory framework — risk assessment, CDD, EDD, ongoing monitoring, record keeping, and the appointment of an MLRO. Amended substantially in 2019, 2022, and 2023.
Proceeds of Crime Act 2002
Defines the predicate money-laundering offences, the SAR filing duty under sections 330–332, and the consent / Defence Against Money Laundering (DAML) regime for proceeding with reportable activity.
FCA Handbook — SYSC 6.3
Senior management responsibilities for financial crime, requirements for systems and controls proportionate to risk, and the standing requirement for an effective AML control framework.
Financial Crime Guide & Thematic Reviews
The FCA's published examples of good and poor practice — non-binding but treated as the de facto benchmark by supervisors during firm visits and skilled-person reviews.
Crypto-Asset Registration
Crypto-asset exchange providers and custodian wallet providers must be registered with the FCA under the MLRs — with the same CDD, monitoring, and Travel Rule obligations as regulated financial firms.
Senior Managers & Certification Regime
Personal accountability for the MLRO and senior managers responsible for financial crime — including direct enforcement risk for the named SMF17 holder.
What the FCA Requires — and How We Address It
Across the MLRs, POCA, and SYSC the same operating obligations recur. Here are the seven the FCA examines most closely.
Firm-Wide Risk Assessment (Reg. 18)
Every regulated firm must conduct and maintain a documented business-wide risk assessment covering customer, geography, product, transaction, and delivery-channel risk.
Customer Due Diligence (Reg. 27–28)
Identify and verify every customer using independent sources. For corporates, identify beneficial owners holding more than 25% and the persons exercising control.
Enhanced Due Diligence (Reg. 33)
EDD is mandatory for PEPs, customers in high-risk third countries, complex or unusually large transactions, and any other situation presenting higher risk.
Ongoing Monitoring (Reg. 28(11))
Scrutinise transactions throughout the relationship to ensure they are consistent with the firm's knowledge of the customer, the customer's business, and the source of funds.
Sanctions Screening (OFSI)
Screen every customer and counterparty against the UK consolidated sanctions list maintained by the Office of Financial Sanctions Implementation, plus UN, EU, OFAC and other relevant regimes.
SAR Filing to the NCA via SAR Online / goAML
File a Suspicious Activity Report under POCA s.330 to the National Crime Agency through the SAR Online portal — moving to the goAML platform — as soon as suspicion arises.
MLRO & SMF17 Accountability
Appoint an MLRO. Under SM&CR, the SMF17 holder is personally accountable for the firm's financial-crime systems and controls, with the FCA empowered to enforce against them individually.
FCA Enforcement Has Real Teeth
FCA financial-crime enforcement has grown sharper year on year. Penalties combine financial fines, public censure, and individual accountability under SM&CR.
What FCA-Aligned Compliance Looks Like
Common Questions
FCA Compliance, Done Properly
See the MLR workflows, OFSI screening, and goAML SAR export live — with the actual templates and evidence trail your FCA supervisor will ask for.