FCA takes data-led approach to help cut financial crime

Improved cross-organisational response to financial crime and fraud

Jenna Brown
clock • 3 min read

Cutting financial crime remains a top priority for the regulator and it will increase its use of data to identify susceptible firms, according to its latest business plan.

The Financial Conduct Authority (FCA) said it wanted consumers and firms to have confidence that financial services was a safe industry. The plan for 2023/24 said: "Over the past year we have improved our cross-organisational response to financial crime. We have built strong foundations for effectively tackling financial crime. "Over the next year, we will build upon these, increasingly using data-led approaches to act quickly to identify and close down weaknesses in the system and disrupt those seeking to cause harm." FCA pledges The regulator said it would continue to work on s...

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