Steve Smart, executive director of enforcement and market oversight, emphasized the need for collective action to combat financial crime at the Law Society Economic Crime Conference 2026, highlighting the increasing threat of fraud and money laundering in the UK.
Key takeaway
FCA calls for stronger collective action against rising financial crime in the UK.
- Step 1 · The triggerFCA signals a crackdown on financial crime, raising compliance expectations for regulated firms
- Step 2 · Knock-onlegal and financial SMEs face higher compliance costs and operational burdens as enforcement tightens
- Step 3 · Reaches youSMEs that fail to upgrade controls risk penalties, business disruption, or loss of client trust, directly impacting their bottom line
The trigger is reported by the source below. The steps that follow are Branch²’s traced reasoning — how the shock could reach a business like yours, not a prediction.
Source: FCA News
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