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FCA restricts 6 unregulated lenders over anti-money laundering concerns
The UK's Financial Conduct Authority (FCA) has imposed restrictions on six unregulated lending firms, known as Annex 1 firms, due to concerns over their anti-money laundering policies, controls, and procedures. These restrictions, implemented at the firms' request, limit their ability to onboard new customers or conduct new business with existing ones, including extending credit. The FCA stated this action is part of its enhanced oversight of Annex 1 firms, which operate in sectors with heightened money laundering risks. The regulator has also reminded regulated firms to conduct thorough due diligence when engaging with Annex 1 firms. The latest restrictions were imposed on Abbital Ltd on October 15, 2026, following earlier actions against Kingscrown Finance Ltd, MOMSB Ltd, Momentus Capital Ltd, Grosvenor Funding Ltd, and Grosvenor Funding (North West) Ltd.
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