In 2022, the UK was forced to reckon with the charge of being soft on economic crime and being the destination of choice for kleptocrats seeking to launder their ill-gotten funds. No longer able to turn a blind eye to these criticisms in the wake of Russia’s invasion of Ukraine, the government turned its focus to long-awaited legislative reforms. However, questions remain over whether criminal and regulatory agencies will be given the funding they need to make use of their new powers. A relatively sluggish year for enforcement suggests more investment is needed.

https://www.wilmerhale.com/en/insights/blogs/WilmerHale-W-I-R-E-UK/20221222-sanctions-fraud-is-coming-to-town-2022-in-review