UK FATF mutual evaluation taskforce: Second meeting report
Think tank: RUSI
Author(s): Veronica Stratford-Tuke
July 23, 2026
This report from UK think tank RUSI analyses the UK’s evolving anti-money laundering and counter-terrorist financing risks ahead of the 2027 FATF mutual evaluation.
This paper provides a timely and authoritative analysis of the UK’s evolving anti-money laundering (AML) and counter-terrorist financing (CFT) risks ahead of the 2027 Financial Action Task Force (FATF) mutual evaluation – a process critical to the UK’s global financial reputation and national security.
Drawing on expert insights from the RUSI UK FATF Mutual Evaluation Taskforce, the report highlights how geopolitical shifts, technological innovation and regulatory changes have reshaped the UK’s illicit finance risk landscape since 2018. The paper identifies key vulnerabilities, including the rise of fraud, the growing threat from virtual assets and new financial technologies, and persistent gaps in the supervision of professional enablers.
Key Implications:
The geopolitical environment has materially increased the UK’s illicit finance risks.
The UK does not appear to have appropriate mechanisms to work through trade-offs between its financial crime risks and competing political objectives.
The UK must demonstrate effective action against fraud, professional enablers and emerging financial crime risks in fintech and virtual assets.
Public–private collaboration remains uneven, with progress concentrated in the banking sector.
The UK Financial Intelligence Unit remains a significant structural vulnerability in the UK’s AML/CFT system.
This analysis is essential reading for professionals in financial crime and AML, policymakers and financial and professional services industry leaders seeking to understand and address the UK’s most pressing AML/CFT challenges ahead of the 2027 FATF evaluation.
