The Financial Conduct Authority (FCA) has said it will step up its game in tackling financial crime and make increasing use of its newly gained enforcement powers.
Speaking at the FCA's Financial Crime Conference today, FCA chief executive Martin Wheatley said the regulator would be looking more rigorously at tracking down offenders as well as stepping up its prevention efforts. He said new technology such as high-frequency trading had evolved fraud and amplified its effects, which was "an enormously serious issue". "Money laundering and corruption on one side of the planet can fuel crime on the other in a finger snap. Pension pots can fall and mortgages rise in seconds on the manipulation of benchmarks like LIBOR. "Increasingly high-tech Pon...
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