FSA creates financial crime division

The new ‘financial crime and intelligence’ division, which came into force on January 1st, is said to be set up to provide the "leadership, tools and expertise needed to meet future challenges and maintain the integrity of the UK’s financial sector". It will cost a total of £3.7m, but the FSA says this will not be new money and, instead, will be reallocated from within the regulator. The division will be led by FSA director Philip Robinson and one of its first tasks will be examining the risks facing consumers from increasing information security and hi-tech crime, as well as low-tech br...