Half of firms believe financial crime is increasing

clock

Almost half of financial services firms believe financial crime has increased over the last two years, according to a report from the Financial Services Authority.

The survey of 655 firms reveals 46% believe financial crime has increased over the last two years, but it was major retail groups and large retail firms who were most likely to say this (70% and 67% respectively). Financial crime was also considered to be increasing among 48% of the smaller retail firms, but they were also inclined to say there was no difference over the last two years (31% for small retail firms compared with 20% for larger retailers). Those who said financial crime had increased were much more likely to say it would continue to do so in the next two years (80%), while...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA360: Check out the photo gallery from our 2024 conference

PA360: Check out the photo gallery from our 2024 conference

Our flagship conference took place last week at 133 Houndsditch in London

Professional Adviser
clock 30 April 2024 • 1 min read
Clients regret not working with an adviser sooner

Clients regret not working with an adviser sooner

Around 46% started using an adviser when they were 40 or older

Isabel Baxter
clock 30 April 2024 • 2 min read
St James's Place client funds reach £179bn due to investment returns

St James's Place client funds reach £179bn due to investment returns

Client funds reach record £179bn in first quarter of the year

Sahar Nazir
clock 30 April 2024 • 1 min read