Jurisdiction(s):
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Regulatory round-up: APP fraud, cryptoasset regime and SCA repeal; ECB Digital Omnibus; EU CRR risk weights; EBA resolution planning; BCBS Basel III (10 March 2026)

Published on: 10 March 2026

Published by a LexisNexis Financial Services expert

Legal News

Article summary

Financial services developments Government fraud strategy for 2026-29 includes focus on APP fraud, cryptoassets and repealing SCA

The Home Office has released its Fraud Strategy for 2026 to 2029, outlining how government intends to counter fraud affecting individuals and companies across the period. It highlights the Financial Conduct Authority (FCA)’s intentions to prevent authorised push payment (APP) fraud and money mule activity; the forthcoming cryptoasset framework due to take effect in October 2027; and HM Treasury (HMT)’s proposal to revoke the current Strong Customer Authentication (SCA) technical standards.

The strategy signals a stronger emphasis on setting out clear illustrations of both effective and poor practice in addressing authorised fraud. Building on work already underway, the FCA will review methods for curbing APP fraud and mule activity, and will circulate its recommendations to the financial services sector overall over the period.

In tandem, research commissioned by the Home Office has explored people’s understanding of money muling, how they become involved, and routes to exit. Publication is expected in 2026. In relation to this exploitative money laundering, the FCA will examine ‘cashing-out’ techniques and share its conclusions with industry, while also identifying obstacles to tackling the behaviour and designing targeted solutions...

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