The FCA is to consult on introducing compulsory criminal background checks on firm owners and controllers applying for authorisation from January 2025.

Convicted money launderer and ex-solicitor Dale Robert Walker, 64, has satisfied a confiscation order after a member of his family paid £33,500 outstanding from £716,719 he was ordered to repay due to his criminal activities relating to an investment scheme.

The FCA is to tighten its rules on crypto-asset transfers from 1 September to crack down on money laundering and financial crime.

The FCA has won a Confiscation Order for £562,636 against former investment adviser and convicted money launderer Richard Faithfull.