The FSA has today set out its approach for tackling mortgage fraud, which it says will make it harder for criminals to escape punishment.
The FSA’s approach to the problem will include targeted visits to 200 mortgage intermediaries to assess their financial crime systems and controls. The role of the Approved Persons regime in relation to mortgage brokers will also be reviewed. Lenders will be encouraged to provide more intelligence and the FSA will streamline the processes for reporting possible fraud cases. The regulator hopes this will enhance its supervision of firms. Relationships between the FSA and other regulators and law enforcement partners will be strengthened. Philip Robinson, director of financial crime and ...
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