London hosts global summit against financial crime

HM Revenue and Customs (HMRC) hosted the Global Financial Industry Partnership (GFIP) Summit 2026. The event took place in London, and the department announced its outcomes on 12 November 2026. The summit brought together international experts who aim to strengthen cooperation against tax crime, money laundering and wider financial crime.

The organisers point out that criminal networks exploit links between countries, sectors and technologies to move illicit funds and conceal their activities. For that reason, the response must involve not only law enforcement but also banks and technology firms, as stressed at the event.

Three priorities of the summit

Discussions focused on three areas. The first is coordinating operational action across the financial system. The second is better information sharing across borders. The third concerns making public-private partnerships deliver results that can be measured.

HMRC Chief Executive JP Marks said that the way financial crime is tackled must keep changing as the threats change. In his view, combining the capabilities of government, law enforcement and industry makes it possible to detect criminals better and disrupt them more effectively.

What GFIP has achieved so far

The GFIP partnership was launched in 2022. Since then, its participants have produced joint assessments of emerging threats, including identity crime, financial crime enabled by fintech and trade-based money laundering. They have also tested new ways of sharing information and cooperating on operations.

Who is behind the J5 group

The J5 group consists of HMRC, the Australian Taxation Office, the Canada Revenue Agency, the Dutch Fiscal Intelligence and Investigation Service (FIOD) and IRS Criminal Investigation in the United States. According to the announcement, shared intelligence and joint operations have uncovered schemes that one country would likely struggle to dismantle alone.

The announcement does not give the number of summit attendees or specific results from ongoing cases. It also does not announce any new rules or changes to services for people living in the UK.