FCA engages with social media platforms to protect 'unconventional' investors

'Fraudsters and scammers benefit from new technologies'

Julia Bahr
clock • 3 min read

The financial services industry has undergone a data-driven revolution in recent years, transforming the kinds of products and opportunities available, according to Financial Conduct Authority chief data, information and intelligence officer Jessica Rusu.

In light of this development the threat landscape for consumers has shifted, Rusu said. Fraudsters and scammers are benefitting from new technologies, she added during a speech at the CDO Exchange for Financial Services. "Cryptocurrencies are a great example. Although crypto provides a potential area of benefit for firms in terms of improving efficiencies and driving down costs - it also provides a serious potential for exploitation and harm", Rusu explained. She highlighted that new kinds of consumers are being drawn to these markets for reasons that are not always conventional or ra...

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 Regulation

Compliance relics: The case against PDFs and screenshots

Compliance relics: The case against PDFs and screenshots

'Partial records or flattened archives are no longer sufficient'

David Clee
clock 09 July 2025 • 5 min read
FCA data request prompts SimplyBiz's sector-wide compliance session

FCA data request prompts SimplyBiz's sector-wide compliance session

Nearly 600 advisers sign up for July webinar on navigating new s165 data requirements

Sahar Nazir
clock 09 July 2025 • 2 min read
FCA data information request: Four focus areas for advisers

FCA data information request: Four focus areas for advisers

‘Data is not just a compliance tool it’s a strategic asset’

Chris Davies
clock 07 July 2025 • 5 min read