UK Financial Intelligence Unit faces criticism ahead of 2027 FATF evaluation

The UK Financial Intelligence Unit (UKFIU) has been described as ‘one of the most materially significant structural weaknesses in the country’s economic crime system’ in a report by the Royal United Services Institute (RUSI), the well-known defence and security think-tank. [...] ‘The example of state actors exploiting scam centres to target UK victims illustrates a convergence of fraud, national security and illicit finance that taskforce members doubted the UK’s economic crime response is inadequately set up to deal with,’ the analysis warns".