Related topic: Money laundering

More than a third of them – 708 properties worth £2.2 billion – are new build homes or development sites.

The restrictions limit their ability to take on new customers or do new business with existing customers, including extending existing credit.

The regulator says firms need to "clearly demonstrate" that they can comply with money laundering regulations and should expect registration applications to take longer.

The guide highlights the benefits of information sharing in protecting firms and clients, while strengthening the sector's collective response to economic crime.

MFS is registered with and supervised by the FCA for compliance with money laundering regulations.

Analysis of FCA enforcement actions uncovers widespread data weaknesses as a key driver of regulatory failings and financial penalties.

The acquisition aims to accelerate growth in digital KYC and AML compliance.

Through the integration, advisers will be able to conduct AML checks and compliance activities directly within Xplan.

Around 90,000 UK properties are owned by anonymous companies, worth over £100 billion.

Barclays has agreed to make a voluntary payment of £6.3 million to WealthTek’s clients.