FSA warns of offshore crime threat from poor staff training

In a new report reviewing financial crime controls in offshore centres, the regulator stressed firms must have appropriate training to ensure staff are quipped to identify and report incidences of financial crime. "We found that the quality of staff training was generally poor - mainly as a result of the high level of staff attrition and consequent high level of recruitment, which makes it difficult for firms to maintain effective training on financial crime," reads the Review of financial crime controls in offshore centres. It urges firms to review their training and introduce incenti...