FSA calls on banks to ramp up fight against investment fraud

A thematic review by the regulator found that they are not doing enough to detect the use of accounts to facilitate the fraud, which includes boiler schemes, carbon credit trading and land-banking. Customers were also not being informed when they were suspected of being targeted by fraudsters. A guidance consultation also published today set out good and bad practice in the area to help improve detection, including recommendations on the use of automated monitoring. The FSA said: "It was not clear to us the banks we visited had fulfilled this aspect of their regulatory obligation t...