Fraud
Industry News
The programme outlines the ongoing and upcoming initiatives driven by the regulator to deliver on their strategic priorities.
Key pieces of work include:
➡️ Building a new data led detection capability to improve identification of financial crime in regulated firms;
➡️ Increasing collaboration with partners to share and analyse data to further tackle organised crime;
➡️ Continue to lead a cross-industry project focussed on better understanding illicit fund flows associated with Authorised Push Payment (APP) fraud;
➡️ Drive improvements in the legal and accountancy sectors through the Office for Professional Body Anti-Money Laundering Supervision (OPBAS); and
➡️ Leveraging technology to identify websites and social media promoting unauthorised financial services.
✅ Firms should ensure their financial crime and fraud transformation programmes align with the FCAs priorities and expectations to maintain compliance in an evolving regulatory landscape.
