FCA updates data strategy to tackle online scams

‘We can stop serious harm faster’

clock • 2 min read
Jessica Rusu, chief data, information and intelligence officer, FCA, said: "We are continuing to improve our data, technology and capabilities to act decisively in consumers interests, while making it easier for firms to report to us." 
Image:

Jessica Rusu, chief data, information and intelligence officer, FCA, said: "We are continuing to improve our data, technology and capabilities to act decisively in consumers interests, while making it easier for firms to report to us." 

The Financial Conduct Authority (FCA) has refreshed its strategy of using data to tackle online fraud faster by scanning about 100,000 websites created daily to identify those that appear to be scams.

The hosts of fraudulent websites identified by the FCA are now being proactively requested to shut them down, though they cannot be forced to do so, according to the watchdog. It added that this...

To continue reading this article...

Join Professional Adviser

 

  • 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

The regulator noted there was broad agreement across the industry regarding the potential harms caused by the growing role of ESG data and rating providers.

FCA sees 'clear rationale' for regulatory oversight of ESG data providers

Mixed feedback on UK green bond standard

James Baxter-Derrington
clock 29 June 2022 • 1 min read
Sub-committee to intervene at consultation paper stage.

Treasury sub-committee launched to scrutinise financial regulators post-Brexit

Additional Financial Services Scrutiny Unit

clock 27 June 2022 • 2 min read
Irish advice firm under investigation by FSCS

Irish advice firm under investigation by FSCS

25 cases upheld by FOS

clock 24 June 2022 • 3 min read