KYC Requirements in the UK 2026: MLR 2017, FCA Rules and ECCTA Explained

Fraud now accounts for more than 43% of all crime in England and Wales, and FCA fines for AML and KYC failures reached a record £124 million in 2025, including a £39.3 million penalty against Barclays. The guide explains the UK’s three-layer framework spanning the Money Laundering Regulations 2017, FCA enforcement expectations, and the Economic Crime and Corporate Transparency Act 2023.