UK financial services face AML enforcement, certification confusion

The UK will allocate £500 million (about $667 million) and 500 new staff to combat money laundering under a 2026–2029 strategy. However, digital identity verification requirements are contradictory: the Treasury requires certified DVS providers, while the FCA does not mention them, slowing adoption in the financial sector.

• Over £100 billion ($133 billion) laundered through Britain annually
• Only 14 of 39 DVS providers certified under DIATF
• Digital identification brought UK £2 billion ($2.7 billion) in a year
• FCA does not mention DVS in rules or AML guidance