But before I introduce myself, here is what caught my attention last week.
£1 billion, barber shops, vape stores, mini-marts. The UK just launched a unit to stop it.
Last week the Home Office announced the High Street Organised Crime Unit, backed by £30 million over three years.
The NCA estimates these everyday businesses launder around £1 billion annually.
YES
£30 million to go after £1 billion in money laundered.
And the businesses involved? Probably not the ones you would expect.
Who would expect barber shops, vape stores, mini-marts? The kind you walk past every day without a second thought. You might have been a one-time customer or regular at one.
Well, except you watch crime movies like I do.
You probably would have come across a scene or more in a movie about this but who would have thought in real life?
When I first started learning about AML I assumed money laundering always looked sophisticated. You know, complex structures, offshore accounts, layers designed to create confusion.
However, not entirely.
Sometimes it looks like a barber shop with unusually high cash turnover.
A vape store that never seems to run out of stock.
A mini-mart where the numbers just never quite add up.
It is rarely dramatic, usually just something that does not fit.
What this means practically
These businesses are DNFBPs (Designated Non-Financial Businesses and Professions). They have had AML obligations under UK law for years.
However, supervision has been inconsistent and enforcement almost non-existent.
That is changing now
Three things worth looking out for as this develops:
1. The risk indicators the unit publishes: The High Street Organised Crime Unit will likely publish red flags and typologies for cash-heavy retail businesses. These will become industry benchmarks for how banks assess these clients.
2. Whether other jurisdictions follow: The EU has been pushing DNFBP supervision harder since AMLD6. Germany’s GwG already covers certain businesses. A high-profile UK crackdown will create pressure everywhere else.
3. How banks respond: Financial institutions will face increased scrutiny on their own CDD and transaction monitoring for high street retail clients. Expect updated guidance from the FCA.
Official source: Home Office announcement gov.uk/government/news/new-high-street-unit-set-up-in-nationwide-blitz-on-dodgy-shops
Money laundering does not always look complex
Sometimes it looks completely ordinary.
A quick introduction
I’m Tosin.
I started About AML because I'm passionate about building a career in this field.
While learning about AML, I couldn't find one place that made regulation clear and accessible without getting lost in a rabbit hole.
So I built it myself.
I’m early in my AML career with educational background in Criminology and International Security Management, CAMS in progress. I attend ACAMS Germany Chapter events in Berlin.
I’m learning in public and sharing everything I find.
Every week About AML will cover
New AML regulatory updates across key jurisdictions
Enforcement cases broken down in plain English
Global standards explained simply
Practical insights for people learning financial crime compliance and businesses navigating AML obligations
Everything you need to know
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See you next Monday.
Tosin from About AML