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ARTICLE · 05 JUNE 2023

Developments For AML Compliance And Whistleblowing In The US And UK

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Recent data from the Financial Conduct Authority (FCA) sheds light on whistleblowing reports that the regulator has received about firms' anti-money laundering (AML) controls.

GlobalGovernment, Public Sector
Kathleen Harris
Kathleen Harris
Jane Norberg
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Melissa Dames
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Recent data from the Financial Conduct Authority (FCA) sheds light on whistleblowing reports that the regulator has received about firms' anti-money laundering (AML) controls.

UK Whistleblowing Reports

The data, obtained by consultancy firm Accuracy via a Freedom of Information request, reportedly shows that over the past five years, employees at finance firms have submitted 141 whistleblowing reports relating to AML to the FCA. The data also shows that, during this period, the number of AML whistleblowing reports has declined. In the 2021 to 2022 period, which is the most recent period reported on, nine reports were made; down from 25 reports made the previous year and the peak of 45 reports in the 2018 to 2019 period.

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